Brazil to invest in infrastructure
Multi-million value investment in Brazil’s infrastructure has been pledged by the country’s president, it has emerged.
In a move that could boost investment opportunities for people buying property in Brazil, some $285 billion (£145 billion) has been allocated to a budget by president Luiz Inacio Lula da Silva in an effort to support the expansion of the Brazilian economy, reports the Associated Press.
Highways, railways, ports and housing projects would be implemented to support the country’s rapid economic growth, the article noted.
The president is looking to help transform the country into an immense construction site and millions of jobs are intended to be created by the infrastructure investment, according to the news provider.
Investment in securing continued economic expansion comes as market volatility in recent months has led to a slowdown in Brazil’s initial public offering activity, reports CNN.
Equity issuance is expected to be weak in the first quarter of 2008, but investors and companies could be attracted to the backdrop of domestic demand and sound economic fundamentals in Brazil, the article suggested.
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