Brazil’s ‘middle class boom’
Half of Brazil’s population are now middle class, it has been claimed.
The nation’s finance minister Guido Mantega told the 28th meeting of the Economic and Social Development Council that the country has witnessed the emergence of a new middle class, Brazzil Magazine reported.
People considering property for sale in Brazil could be interested to hear the news, which suggests the nation is enjoying a period of economic resilience.
"In 2009, with all of the joint work between the private and public sectors, we will be perfectly able to ensure growth of around 4% for the Brazilian economy," Mr Mantega added.
He explained that the nation’s public accounts are witnessing its best primary surplus and lowest deficits in history.
Meanwhile, it emerged this week that Olympic cycling champion Chris Hoy has bought a luxury Brazilian property in the coastal region of Natal.
The athlete said he opted to buy the holiday home because the Brazilian property market is one of the world’s fastest growing emerging markets.
