GDP to be 4.8%, says bank
Brazil’s central bank is maintaining its forecast for gross domestic product (GDP) in 2008 to be 4.8 per cent, it has been reported.
The bank’s Quarterly Inflation Report disclosed the prediction yesterday (June 25th), according to Brazzil Mag.
People looking at Brazilian property could be interested to hear the forecast which hints at an economic buoyancy in the Latin American nation.
The prediction is based on the probability the nation’s base interest rate will remain at 12.25 per cent and the currency exchange rate will remain at around 1.65 real per US dollar.
Joao Batista de Oliveira, manager of the survey, told the publication: "São Paulo earns one of the largest pieces of the pie due to its economical situation. There are industries throughout the entire territory in the state."
Meanwhile, in other news that could have a positive effect on Brazil real estate one of the nation’s airlines has just placed an order for more jets which hints the country’s tourism industry is set to boom.
