German bank praises Brazil’s economy
A leading German bank has praised the current state of the Brazilian economy this week.
Deutsche Bank has forecasted a five per cent growth in Latin America’s largest economy this year and again in 2008, highlighting the benefits of strong trade links with China.
The bank commented on the Brazilian currency, the Real, which has gained considerable ground over the last few years.
"If anyone were to ask themselves if that trend can be compared to the highs and lows of the past, the answer is a clear no," Deutsche Bank said in its most recent edition of a periodically distributed report.
The report, which analyses the economic performance of emerging markets, said that Brazil has "learned its lessons from the past" and the outlook for its financial sector was now "extremely positive".
As well as growth in the financial sector, Brazil’s tourist industry has also experienced a 134 per cent increase in just three years.
To build on this success the Brazilian tourist board, Embratur, has hired an international public relations firm to promote the country’s tourist potential in the US.
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