President Lula: Brazil to be fifth biggest economy by 2020
Brazil will be one of the five biggest economies in the world by 2020, boosting people interested in foreign property investment.
President Luiz Inacio Lula da Silva made the claims to the Financial Times at its Investing in Brazil summit hosted in London, stating that he has confidence in his country’s "brilliant future".
The president said that he expected Brazil to be among one of the largest economies within 15 years, thanks to its strong financial performance, technological and educational development and its firm democracy.
A spokesperson for investment property group Obelisk said that a combination of massive infrastructure investment, credit availability and tax reduction on key goods would appeal to prospective Brazilian property owners.
"We have lots of projects – petroleum, construction, railways, high-speed trains," added the president.
Apart from current investment opportunities, sporting events such as the football World Cup in 2014 and the Olympic Games in 2016 will benefit most of the country, helping it to move up the economic league table.
