Brazil's economy set to keep growing

Date added: 1st August, 2008 at 12:48 (view all articles from August, 2008)

Categories: Economy, Natal

Brazil's economic expansion is likely to continue over the next few years at least, a media outlet has predicted.

According to the New York Times, the South American nation is benefiting from recent efforts to diversify its economy.

As a result, the country is performing favourably, while its population is becoming increasingly affluent and forming a new middle class.

The publication said Brazil is currently in the middle of the biggest period of expansion it has seen in 30 years.

This, it stated, means it is thriving while places such as the US are facing the prospect of recession.

"Brazil's economy shows few of the vulnerabilities of other emerging powers," said the New York Times.

The newspaper added that this has given it greater influence in global trade talks.

This echoes recent comments from Newsweek, which stated that "things couldn't be better" in Brazil, despite economic problems in other parts of the world.

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