Brazil » Outlook

Brazilian economy for year 2008 till September has experienced growth of 6.3 percent. Despite the global economic crisis the country seems to be doing quite well although growth seems to have slowed down in the final quarter of the year it is still expected that the country will surpass the 5% target as it showed an impressive growth of 7% in its third quarter. There is confidence in Brazil’s banking and housing sectors which show growing potential. The strong economic statistics of Brazil provide sound reasons for investments. Agro business sector is the most dynamic plus Brazil being an expert in technological sector also deals with submarines and aircrafts developments. Brazil is involved in space research as well. The tourism industry of Brazil is another strong economic sector that is witnessing a growing trend and contributing to the Brazilian economy. According to Brazil's President Luiz Inacio Lula da Silva new economic strategy for the year 2009 have been devised to prevent the nation from the effects of the global economic crisis and to boost the economy. Silva predicts growth at 4 percent next year, but the Central Bank projects it to be 3.2 percent. It is believed that the massive oil field off the coast of Rio will prove to be a great asset for the country and would place Brazil among the top 10 produces in the world bringing in a lot of wealth as well.

 

 
The policies of present government have helped control inflation decreasing it to an all-time low at 5.7%. Brazil has a low cost of living, only 20% of the cost as compared to the UK.

The CIA World Fact book says ‘Brazil’s economy outweighs that of all other South American countries and is expanding its presence in world markets.’