Brazilian economy 'to grow above global average'
Date added: 10th November, 2008 at 11:04 (view all articles from November, 2008)
Categories: Economy
The economy of Brazil will grow above the expected global average of 2.2 per cent next year, according to the president of the country's central bank.
Brazzil Magazine reports that Henrique Meirelles said Brazil will be less affected by the economic crisis that is causing problems for many countries throughout the world.
"The slowdown will not be that strong, we will grow at rates much higher than the International Monetary Fund's forecasts of average growth worldwide," he remarked.
If his predictions are correct, this could be good news for those looking to make a property investment in Brazil.
Mr Meirelles cited strong domestic demand and the flow of foreign investment coming into the country as the main drivers of growth going forward.
He said the Brazilian economy is likely to grow by more than five per cent this year, following growth of 5.4 per cent in 2007.
His confidence is shared by Brazil's prime minister Luiz Inacio Lula da Silva, who has insisted that the country's economy remains strong.
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