Brazil’s primary surplus ‘beats 2007′
Those considering buying property in Brazil could be interested to hear the nation’s primary surplus is "already" greater than that of 2007, it has been reported.
Figures released this week by the Brazilian Central Bank reveal the country has saved more money up to the end of August this year to pay off national debt than it did in the whole of 2007, according to the Brazil Arab News Agency.
The total primary surplus – money made by the government to cover financial expenses including public debt – has reached $55.4 billion (£27 billion) so far this year which has surpassed the $52 billion it totalled during the course of 2007.
Meanwhile, the ANBA also reported that investment by Brazilian state-owned companies reached its highest levels for 13 years.
According to the news agency Brazilian firms were "sailing on calm waters" during the first eight months of this year while the world’s economy was gripped by the downturn and turmoil of the credit crunch.
