Brazil Property News: Brazil's economy to grow at a faster rate than predicted




28th March 2008 02:53


While financial experts in the US are busy denying rumours that the nation faces a recession, Brazil's Central Bank has revealed this week that it now expects the country's economy to grow faster than first expected.

Economic expert Alexandre Schwartsman told Bloomberg: "This is a very healthy situation … Brazil's overall lending is still very far behind other nations.

"We don't have any of the problems that have been affecting the US."

Yesterday the Central Bank increased its forecast that the country's gross domestic product (GDP) would growth at a rate of 4.5 per cent in 2008 to 4.8 per cent, reports Chinese news agency Xinhua.

Officials upped the percentage after figures released earlier in the month had shown Brazil's present GDP to be worth £749 billion in 2007 – a 5.4 per cent increase compared with the previous year.

Those considering buying property in Brazil may be encouraged by the news, which suggests an economic resilience in the Latin American nation.

In related news, it was revealed this week that sales generated from one of the most important events in Brazil's real estate calendar, Nordest Invest 2008, have exceeded all expectations.

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