Investment in Brazil 'to rise' after stronger-than-expected economic recovery
Date added: 11th June, 2010 at 10:07
(view all articles from June, 2010)
Categories: Economy
Investment in Brazil is set to rise after the country's economy outperformed predictions for its growth in the first quarter of the year, the government have said.
According to the Wall Street Journal, a report released by the nation's finance ministry entitled the Brazilian Economy in Perspective estimated that the country would see a 6.5 per cent growth this year - up from the 5.5 per cent increase previously projected by the government.
Brazil's leaders have also raised their expectations for the investment rate to 19 per cent of gross domestic product (GDP) in 2010 after it expanded by 18 per cent of GDP in the first quarter, the news provider said.
Also forecast by the government was the country's current account deficit, which it said would likely increase to $42 billion (£28.5 billion) this year from $24 billion in 2009.
However, it expects this to be fully compensated for by overseas investment, which it sees growing to $45 billion in 2010 from $25.9 billion last year, the information source reported.
The latest Manpower Employment Outlook Survey showed that out of 31 countries predicted to see higher recruitment in the near future, the greatest job prospects were seen in Brazil, among other emerging markets.
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