Brazil ‘expected to record 14-year-high growth’
Experts predict that Brazil’s economy will to end 2008 with its best growth in 14 years, Brazilian property investors may be interested to learn.
The United Nations Economic Commission for Latin America and the Caribbean expects Brazil’s economy will have grown by 5.8 per cent by the end of the year, MercoPress reports.
Latin Business chronicle analysis of data from the International Monetary Fund shows it will be the best performance since 1994, as well as exceeding economists’ expectations, according to the news agency.
"Despite a deteriorating global backdrop and a US recession, we believe that public works related to the expansion of the Canal and other sizable infrastructure projects will remain key drivers of economic activity," said Franco Uccelli, analyst at JP Morgan.
Brazilian president Luiz Inacio Lula da Silva said earlier this week that 2008 was an "exceptional" year for the country and promised that the government will not be allowing the poor to suffer the consequences of the global financial crisis, Brazzil magazine reported.
