Brazil ‘will keep growing’
Brazil will "keep growing" despite the US "mortgage debacle", according to industry experts.
Figures released this week in a survey conducted by the Brazilian Development Bank (BNDES) revealed that between 2002 and 2005 Brazil received 640 billion reais (£177 billion) in investments.
The study goes on to estimate that between 2007 and 2010 the estimated value of investment will be one trillion reais (£255.25 billion) and 1.19 trillion reais (£335 billion) between 2008 and 2011.
President of the BNDES, Luciano Coutinho, told Brazilian-Arab news agency Anba: "The Brazilian economy is undergoing a favourable time at the moment. It has solid conditions and will be able to sustain growth.
"The developing countries are going to help maintain global growth in 2008."
He added that the forecast of a 5.5 per cent economic growth rate for 2008 is a realistic one, despite the current cooling of the global economy.
The news will please some property investors in Brazil as a strengthening in the country’s economy may have a knock-on effect on its property market.
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