Brazil growth "excellent" compared to other countries

Date added: 25th September, 2008 at 09:44 (view all articles from September, 2008)

Categories: Economy

Brazil's economy is holding up much better during the current financial crisis than most other places, an expert has suggested.

The chief economist of an unnamed foreign bank operating in Sao Paulo told the Financial Times that the effects of market turmoil will be relatively "benign" in the country.

"We expect growth to slow from 5.4 per cent this year to 3.5 per cent next year. Compared to global growth of about one per cent in 2009, that's excellent," the spokesman said.

The Financial Times added that "the credit crisis may have come at a good time" for Brazil, as it will help to keep the economy from "overheating".

Brazzil Magazine reported this week that Brazil's government has pumped $7 billion (£3.76 billion) into its economy in order to improve liquidity in the financial marketplace.

Agora Corretora analyst Aloisio Lemos told the publication the move was a positive one for the country's banks.

Email this article to a friend

Related Articles

Brazil's growth 'helping to boost number of millionaires'

Last year saw a six per cent increase in the number of dollar millionaires in the world and Brazil's booming economy is one of the main reasons why, it has been argued....

Date added: 17th September, 2008 at 10:43 (view all articles from September, 2008)

read more >

Brazil is "great" investment location

Brazil has been tipped as a particularly favourable destination for property investment by one industry expert....

Date added: 16th September, 2008 at 13:00 (view all articles from September, 2008)

read more >

Show to highlight Brazil property investment

People interested in property investment in Brazil could learn more about such opportunities during a specialist event held in London this week....

Date added: 16th September, 2008 at 11:00 (view all articles from September, 2008)

read more >