Lula: Oil wealth belongs to Brazilians
President Luiz Inácio Lula da Silva claims the recent finds by Brazil’s state oil company Petrobras belong to the "wealth of the country", it has been reported.
This could be interesting news to those considering buying property in Brazil as it hints at economic buoyancy in the nation.
According to Mercopress, president Lula said earlier in the month that the wealth, thought to be 6,000 metres deep, belongs to the Latin American nation’s 190 million people.
"[The money will] resolve definitively the problem of education in this country, to resolve the problems of millions of poor that are here, and not leave it in the hands of half a dozen companies that think the petrol belongs to them," the president is quoted by the news agency as saying.
In other news, it was reported yesterday by the ANBA that Brazil’s Central Bank has announced that Foreign Direct Investment in the country could reach $35 billion (£17.5 billion) by the end of the year.
