Brazil has ‘international credibility’
Brazil’s international credibility has been "boosted" by the country’s fiscal discipline, according to an expert.
Carlos Caicedo, writing for the Latin Business Chronicle, says: "Brazil is better positioned to enter a global downturn than it has been previously."
"The commodity boom has been partly responsible for stronger economic growth," he states, adding that the expansion of the country’s middle class and its rising purchasing power has also had an effect, Brazilian property investors may be interested to learn.
Mr Caicedo says other signs that the economy is strong include the reduction of Brazil’s debt burden to around 42 per cent of its gross domestic product and the central bank’s control of inflation levels.
Last week, figures from the United Nations Conference on Trade and Development, revealed that foreign direct investment in Brazil rose by 20.6 per cent in 2008, amounting to $41.7 million (£30.1 million) compared to $34.6 million the year before.
