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Lula's policies 'attracted investment in Brazil'

Date added: 12th October, 2010 at 09:45
(view all articles from October, 2010)

Categories: Economy

Investment in Brazil was encouraged by the economic policies the country's outgoing president Luiz Inacio Lula Da Silva introduced during his term, it has been claimed.

The leader was elected in 2002 and, according to Investors Chronicle, he did much to attract speculation in the nation.

Brazil is currently in the process of choosing a new president and the two main runners - Dilma Rousseff and Jose Serra - have said they will continue with their predecessor's successful policies.

The Real Plan, which began in 1994, has seen gross domestic product rebound - growing two per cent in the last quarter of 2009, the news provider reported.

"We do not expect the upcoming elections to have any impact on our investment or potential new investments," Will Landers, manager of BlackRock Latin American Investment Trust, stated.

He explained the presidential candidates' promise to extend the Real Plan will ensure the economy continues to grow and encourage people to plough their money into the country.

The first round of the general election was held on October 3rd but found no clear winner, so the nation will vote again on October 31st.

Urban Larson, director of emerging equities and Latin America specialist at F&C Investments, recently said markets are expected to be neither excited nor worried if Ms Rousseff wins, as President Lula - as he is commonly known - is likely to continue working behind the scenes.

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