Brazil has the financial reserves for the World Cup and Olympics
Brazil has sufficient financial reserves to stage the 2014 FIFA World Cup and the 2016 Olympics and to do them to a high standard, those with property in Brazil will be pleased to hear.
Speaking in an interview with Sao Paulo’s Radio Globo, President Luiz Inacio Lula da Silva said that the country has the funds to invest in improvements to infrastructure and stadiums.
The President pledged 80 billion reales (£25.7 billion) towards the World Cup and stated that, if the nation did not have enough in the kitty, then it would not have bid for the event in the first place.
"We meet all the requirements for the World Cup but we want more – we also want the 2016 Olympic Games … obviously we would not want to organise the World Cup if we did not have the money," he told the radio station.
In other news which will be of interest to those with Brazilian property, figures from the United Nations Economic Commission for Latin America and the Caribbean recently suggested that the Brazilian economy will grow by as much as 3.5 per cent next year.
