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Moving from contraction to expansion, manufacturing activity could allay fears about the economy's stability.
"By 2023 India and Brazil are on the march. India is up to 4th, Brazil to 5th." says the report.
The floods are said to have been the worst in over 90 years killing over 30 people.
20 people have died while 40000 have been evacuated from southeastern Brazil.
The Brazilian minimum wage is adjusted depending on inflation and economic growth.
It's not clear what caused the crash, but no other vehicles were involved.
Chile posted an annual growth of 5.6 per cent in 2012 which is expected to slowdown to 4.2 per cent this year.
Rousseff's government has scored a record high approval rating of 75 per cent.
The Finance Minister said Brazil will raise interest rates on some state-subsidized credit lines in 2014.
Brazil has maintained strong ties with post apartheid South Africa.
