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Brazilian economy strong, says finance minister

Article Date : Tuesday, March 18, 2008       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Brazilian finance minister Guido Mantega announced yesterday that the South American country's economy is relatively strong.

Perhaps highlighting the potential of the nation as a property investment opportunity, Xinhua reports the government representative as saying the country is on "solid bases".

This comes despite the global credit crunch, which has been affecting other countries across the world since last summer.

During his speech, Mr Mantega alluded to Brazil's 195 billion USD (96.69 billion GBP) reserves and how there is currently "great trust" in the country's economy.

He also stated that Brazil has been "protected" from events that have hit other nations.

"All analysts are unanimous in saying that Brazil is a place where things are going well, where companies and banks are solid," the minister is reported as saying.

The Latin Business Chronicle reported this week that real estate in Brazil has shown positive growth over the last seven years, buoyed by a strong economy.
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