Brazil Property News: Brazil is booming as number of rich rises, says research




5th August 2008 04:35


People looking at property for sale in Brazil may like to hear that new research has found the nation's economic growth has reduced poverty and increased the number of rich citizens, it has been reported.

New research released today (August 5th) by the Institute of Applied Economic Research (Ipea) found the recovery of the Latin American nation's economy has improved the income of all Brazilians, according to Agencia Brasil.

"Even the rich, in addition to economic growth, have benefited from productivity gains, which are shared with low wages," a statement from the Ipea said.

The study's results - which focused on the period from 1992 to 2008 - were announced by Ipea chairman Marcio Pochmann.

It was reported by the New York Times last week that economists from the University of Brasilia are predicting Brazil is about to achieve its potential as a world player.

According to a report in the US newspaper, the country's inhabitants are creating new class structures as the realm of super rich hit the nation.


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