Brazil's Minister of Finance Guido Mantega said on Friday that the current global stock market turbulence will not affect the country's GDP growth in 2007.

"I believe that this international financial turbulence has not finished yet. However, it has a very small repercussion in Brazil, " he told the Brazilian press.

"It will not interfere with economic growth, which may reach some 4.5 percent this year," the minister added, who believes that the crisis will not interfere with the GDP growth rate for the next few years either.

Mantega underscored that the government's monetary policy will keep targeting inflation, denying that the crisis could lead to a rise in interest rates, as foreseen by analysts.

Brazil's Central Bank President Henrique Meirelles also said on Friday that the crisis, prompted by a bubble in the U.S. subprime mortgage market, did not reduce the entity's expectation for the 2007 GDP growth, which he estimated at 4.7 percent.