Brazil’s GDP ‘will grow 4.71% this year’
Brazil’s Gross Domestic Product is set to grow by 4.71 per cent this year and another 4.33 per cent in 2008, according to new reports.
Figures released this week in the Focus Bulletin report from the country’s Central Bank forecasted the growth based on the opinions of 100 market analysts and "main economy indicators", reports Brazzil Mag.
Analysts also expect that foreign investment and capital invested in the productive sector, will total $33 billion (£17 billion) for 2007, and forecast that this figure should reach a stable $25 billion (£13 billion) in 2008.
Interest rates, which have been praised in recent months for their stability, will remain at 11 per cent for this year and 10.25 per cent for next year.
The economic growth and stability outlined in the report is good news for property investors in Brazil, whose investments may increase in value in correlation with the country’s progressing economy.
Property prices in Brazil are reported to be increasing at a rate of 20 per cent with some regions of the north-east of the country exceeding this rate.
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