Brazil to be ‘world economic player’
Economists are predicting Brazil is about to achieve its potential as a world player, having seen its biggest expansion in three decades.
The New York Times reports the country’s inhabitants are creating new class structures, with the realm of the super rich hitting Brazil.
President Luiz Inacio Lula da Silva has helped millions of residents out of poverty in the country, according to David Fleischer, a political analyst and professor at the University of Brasilia.
It has reduced the gap in income by six per cent and the bottom ten per cent of earners have seen their pay increase by 58 per cent, according to Marcelo Cortes Neri, the director of the Center for Social Policies at the Getulio Vargas Foundation.
Brazil has also remained resilient to the economic downturn being experienced by Europe and the US.
The country has already diversified its industries now dealing in oil and the large agricultural sector in the area.
According to Merco Press, Mr da Silva has recently championed the economy in the country, saying it is "going to continue growing".
