Translation - Portuguese brazilian-French - Deus é gracioso

Ummm is that the equivalent of "Praised be (our) God" "God be praised" when used as an exclation of e.g. relief? Or is it like stating that God should be praised?

Deus é gracioso = God is gracious

pirulito, look at the French translation though. That is what makes me wonder (and is submitted by the original requester too)