Brazil’s president ‘confident of surviving recession’
Brazilian president Luiz Inacio Lula da Silva is confident that his country will rise out of the recession relatively unscathed, it is reported.
The South American leader tells the Financial Times: "Brazil came into the crisis later [than the rest of the world] . . . and has every chance of coming out of it more quickly."
Demand for food and industrial commodities and high levels of direct investment from overseas have helped the country to accumulate over $200 billion (£142 billion) of foreign direct currency, according to the newspaper.
President Lula da Silva claims the biggest concern for Brazil is making sure there is "no reversal of our achievements" regarding employment and income for dozens of millions of the country’s poorest people.
Meanwhile, Samantha Gore, sales manager at uv10, says the Brazilian property market offers a hot opportunity for foreign investors because the country is "booming" due to the expanding middle classes.
