Prospective investors interested in Brazilian property might like to know that the nation's central bank claimed that the country is strong enough to face the current economic crisis as the nation's primary surplus is "already" greater than that of 2007, it has been reported.
According to the Brazil Arab News Agency, the most important factor in intensification of the nation's economy is reducing the domestic foreign currency debt and the Brazilian Central Bank revealed the country has saved more money up to the end of August this year to pay off national debt than it did in the whole of 2007.
In the latest figures on the central government's total primary surplus - The money saved by the public sector to pay interest on the country's debt- has reached $55.4 billion (£27 billion) till August whereas it totaled 101.606 billion reals (US$ 52 billion - the values are at current exchange rates for evaluation purposes) in the whole of last year. For the year, the primary account surplus is now well above the US$ 11.4 billion (33.1 billion reais) target in the IMF agreement.
Joaquim Levy, Brazil's secretary of the National Treasury has said that the increase in Brazilian primary account surplus target will boost the economic climate, particularly for private investors. This is good news for those buying property in Brazil as their investments in Brazilian housing market would return higher profits.
According to the Brazil Arab News Agency, the most important factor in intensification of the nation's economy is reducing the domestic foreign currency debt and the Brazilian Central Bank revealed the country has saved more money up to the end of August this year to pay off national debt than it did in the whole of 2007.
In the latest figures on the central government's total primary surplus - The money saved by the public sector to pay interest on the country's debt- has reached $55.4 billion (£27 billion) till August whereas it totaled 101.606 billion reals (US$ 52 billion - the values are at current exchange rates for evaluation purposes) in the whole of last year. For the year, the primary account surplus is now well above the US$ 11.4 billion (33.1 billion reais) target in the IMF agreement.
Joaquim Levy, Brazil's secretary of the National Treasury has said that the increase in Brazilian primary account surplus target will boost the economic climate, particularly for private investors. This is good news for those buying property in Brazil as their investments in Brazilian housing market would return higher profits.
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