Brazil predicts mass-foreign investment
People who are considering buying property in Brazil could be interested to hear that the country is set to see an influx of overseas investment, according to its president.
Luiz Inácio Lula da Silva was commenting on his country’s newly acquired investment grade condition, reports Mercopress.
The Latin American president said that the grading would act "as a magnet [for] foreign investment.
"Brazil is a serious country, with serious policies, which looks after its finances seriously, and that is why we now have achieved the international trust, which Brazil was after for a long time," he added.
President Lulu added that he could never have envisaged "the massive influx of US dollars to Brazil" when he left his hometown state of Pernambuco in 1952.
Standard & Poor announced yesterday it was placing the country in a group that presents low risk to investors.
This move resulted in the Sao Paulo Stock Exchange Index soaring by 6.33 per cent to a record level, according to ANBA.
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