Brazil's GDP to Grow 0.5 to 1 Pct in 2nd Quarter: Minister

RIO DE JANEIRO, Aug. 31 -- The Brazilian government expects the country's economy to grow by 0.5 to one percent in the second quarter this year, Finance Minister Guido Mantega said Monday.

The number was disclosed before the Brazilian Institute of Geography and Statistics (IBGE) officially announces latest GDP figures on Friday.

In the first quarter, Brazil's gross domestic products (GDP) expanded by 2.7 percent quarter on quarter, and nine percent year on year.

According to the minister, Brazil's GDP will grow about seven percent in 2010. The projection is roughly on par with that of the Brazilian financial institutions in the Focus market survey released earlier in the day by the country's Central Bank.

In the 2011 to 2014 period, Mantega expects the economy to grow by an average 5.8 to six percent. The country's GDP contracted by 0.2 percent last year.