Brazil’s economy is ‘going strong’
People considering buying property in Brazil could be interested to hear the country’s economy is strong, one expert has said.
Fitch Ratings revealed the Latin American nation’s export diversity meant it was a reliable place to invest, as it is less vulnerable than other emerging markets, Bloomberg reports.
Shelly Shetty, the investment agency’s senior director, told the news agency: "No one is forecasting a huge hit in commodities prices, but if it happens, Brazil is in a better position to absorb the shock."
Last week, the agency upgraded the country to investment grade suggesting the nation was ripe for buying into.
A report revealed it had assigned Brazil’s long-term foreign currency IDR to BBB- from BB+.
The South American nation was appointed investment grade by Standard and Poor earlier in the year, a move which resulted in the Sao Paulo Stock Exchange Index soaring by more than six per cent to a record level, reports ANBA.
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