Brazilian Finance Minister Guido Mantega said on Friday that the country would see a slowdown in gross domestic growth (GDP) starting in the second quarter.

"We will not stop growing, (and) we will grow moderately," he said during a lunch with businessmen in Sao Paulo.

The minister said Brazil would grow at 4.5 percent this year, which he considers ideal.

Mantega also talked about the possibility of reducing corporate payroll taxes and tax reform.

Commenting on the public sector's primary surplus, Mantega said it reached some 60 billion reais (about 37.5 billion U.S. dollars) in the first four months of this year, surpassing the previous projection.

"We are strengthening the country's fiscal results and reducing the demands of the state," he said.