Brazils economy ’set for growth’
The finance minister of Brazil has said that he expects his country’s economy to grow by four per cent during 2009, despite the global economic difficulties.
In what is likely to be good news for those with Brazilian property or thinking of investing in some, Guido Mantega said that the Latin American country will not be affected by the possible recession other countries may be about to enter and that its economy is solid.
"Brazil is in a more favourable situation than that of the rich countries and also in relation to the rest of the emerging countries," he told reporters after a government conference.
Brazil is the largest and most populous of the Latin American countries and its economy outweighs that of its neighbours, the CIA World Fact Book reports.
Its main industries include textiles, shoes, cement, iron ore and motor vehicle manufacturing.
Both employment levels and real wages have increased since 2004.
