Rate of investment in Brazil 'increasing 3 times faster than GDP'
Date added: 11th August, 2010 at 10:47
(view all articles from August, 2010)
Categories: Economy
Investment in Brazil is accelerating at a rate three times faster than the growth of gross domestic product (GDP), the government's forecast for which has been revised upwards, according to Market News International.
Dow Jones Newswires reported the country's finance ministry expected to receive $45 billion (£28.48 billion) from foreign sources, while the amount of money ploughed into the nation's public sector would be the government's highest administrative spend this year.
The leader's forecast exceeded that of recent median market predictions of around $38 billion, the news provider said.
In a report entitled Brazilian Economy in Perspective, the finance ministry also revised its projections for GDP growth upwards for 2011 to 2014.
During the three year period, the economy is seen expanding by 5.7 per cent, while the government has maintained its forecast for 2010 of 6.5 per cent.
A recent report from Brazil's national statistics office Instituto Brasileiro de Geografia e Estatistica (IBGE) revealed that the rate of unemployment had declined by 0.5 per cent in June compared with May.
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