Brazilians 'enjoy greater personal wealth'

Date added: 24th July, 2008 at 10:28 (view all articles from July, 2008)

Categories: Economy, Natal

People in Brazil are now far more affluent than they were in the recent past, it has been claimed.

According to BBC News, many residents of the South American nation are now being paid much higher salaries.

This has been attributed to recent growth in its economy, which has generated extra wealth and liquidity in its financial institutions.

BBC News commented: "Brazil has seen robust economic growth, prompted in part by consumer spending as Brazilians enjoy rising incomes and cheaper credit."

The news provider was speaking after the country's central bank decided to raise interest rates from 12.25 per cent to 13 per cent.

This was described an effort to limit inflation amid a period of strong economic expansion.

Brazil was recently praised by Gulf Weekly for its recent financial performance, as it is "holding its own" in the face of an economic downturn in the nearby US.

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