President Lula: Brazil is growing like China
People interested in Brazilian property have been boosted by the news that the country’s economy has expanded "at a Chinese rate, close to nine per cent".
President Luiz Inacio Lula da Silva made the claim in his weekly newspaper column published in regional dailies, which added that Brazil is leaving the global financial crisis behind.
The president commented that third quarter growth and the creation of a million new jobs was evidence that the crisis for Brazil is over.
Finance minister Guido Mantega recently predicted the third quarter figures when he claimed that the Brazilian economy was already expanding at an annualised five per cent after being in a "technical recession" for the first quarter of 2009.
Signs that the economy had improved in Brazil recently were backed up by figures which showed that the number of BMWs, Rolls Royce and Audis being bought by property owners had shot up in recent months.
