Brazil's record 14- year high economic growth
Wednesday, January 14, 2009
It's good news for Brazil’s economy and wonderful timing for investors looking for an overseas property as Experts said that Brazil economy in 2008 is its best growth in 14 years.
MercoPress has cited The United Nations Economic Commission for Latin America and the Caribbean and reported that Brazil's economy will have grown by 5.8 per cent by the end of the year. Brazil's overall growth during 2008 is the highest figure since 1994. Finance minister Guido Mantega said that the Programa de Aceleração do Crescimento - PAC (Accelerated Growth Programme), the strong domestic market and the government's investments all contributed to the strong growth.
John Welch, The chief global economist of Itaú bank recently said Brazil's economy is one of the best prepared to face the global crisis and will not enter into recession in 2009. Welch identified two main reasons why Brazil is well placed to defy the global downturn: the surplus in its external trade in commodities is relatively small (5% of GDP), prudent monetary and fiscal policies and deepened their structural reforms have been implemented over the last decade.
This comes after the news that Property Bond International claims that there is an immediate requirement for 8.5 million homes in Brazil this requirement is rising by 1.5 million every year due to the nation having such a young population
Social BookmarkingMercoPress has cited The United Nations Economic Commission for Latin America and the Caribbean and reported that Brazil's economy will have grown by 5.8 per cent by the end of the year. Brazil's overall growth during 2008 is the highest figure since 1994. Finance minister Guido Mantega said that the Programa de Aceleração do Crescimento - PAC (Accelerated Growth Programme), the strong domestic market and the government's investments all contributed to the strong growth.
John Welch, The chief global economist of Itaú bank recently said Brazil's economy is one of the best prepared to face the global crisis and will not enter into recession in 2009. Welch identified two main reasons why Brazil is well placed to defy the global downturn: the surplus in its external trade in commodities is relatively small (5% of GDP), prudent monetary and fiscal policies and deepened their structural reforms have been implemented over the last decade.
This comes after the news that Property Bond International claims that there is an immediate requirement for 8.5 million homes in Brazil this requirement is rising by 1.5 million every year due to the nation having such a young population
Labels: Economy, Investment-property
