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Investment in Brazil to rise as its economy improves?

Date added: 27th October, 2010 at 09:45
(view all articles from October, 2010)

Categories: Economy

Those considering investment in Brazil may be interested to know one expert has said the country's economy is growing in power.

Speaking to Steve Hawkes of the Sun, economic advisor to stockbroker Arbuthnot Ruth Lea said the country had done "terrifically well".

"It just shows how the power in the world economy is shifting," she stated.

Indeed, Mr Hawkes believes the country's economy could grow to five times the size of Britain's over the next five years.

The journalist credited outgoing president Luiz Inacio Lula da Silva as having made improvements in the nation since he took over office from Fernando Henrique Cardoso in 2002.

However, the country's oil reserves and agricultural sector, as well as increased demand from China, have had a large part to play, he added.

Lula - as he is commonly known - is to be replaced this month, with a second round of voting due on October 31st following the first ballot on October 3rd, which produced no clear winner.

Flavia Cattan-Naslausky, currency strategist at Royal Bank of Scotland, told the commentator there were still improvements to be made by the president's successor.

"Most of the macro work is done; it now needs some fine tuning," he said.

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