Foreign investors thinking about buying property in Brazil may be interested in initiatives the government has made to boost its economy to withstand the global economic crisis, China's state news agency has reported.
Henrique Meirelles, the president of the Latin American nation's Central Bank, has said that to the Xinhua agency that the economy will grow at a rate faster than the global forecast of two per cent, reports Ready2Invest.co.uk. Indeed, he predicts that it will grow at a higher rate than the anticipated global average of two per cent. He also added that Brazil will undergo a deceleration in the credit next year, but in a much lower pace than many countries.
Mr Meirelles went on to say that the central bank still had more than US$200 billion in foreign reserves despite taking action to curtail the effects of the ongoing worldwide economic issues. The bank has spent approximately US$77 billion to improve liquidity levels and make sure credit is offered in all areas of the economy.
A spokesperson for the Embassy of Brazil in London has stated that property prices in Brazil have been growing to the tune of 20 per cent per year and the volume of property in Brazil being bought increased by 80 per cent in 2007.
The Brazilian economy has grown faster according to President Luiz Inácio Lula da Silva and he has pledged to help the nation become even more independent, according to MercoPress.
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