Brazilians confident in presidents ability to run economy

The president of Brazil's handling of the country's economy has been backed by ordinary citizens, a poll has revealed.

Research conducted by Datafolha and published in the Folha de Sao Paulo daily newspaper puts Luiz Inacio Lula da Silva's approval rating at 70 per cent.

This is up on the 64 per cent level recorded in September, and Datafolha director Mauro Paulino believes this improvement can be attributed to the confidence of Brazilians in the ability of Mr da Silva to ensure the country's economy continues to grow.

"The economic crisis hasn't reached the population yet to the point of creating great concern," Reuters quotes him as saying in an interview with Folha.

This news may inspire overseas property speculators to invest in Brazil in the hope that the country's economy will weather the global economic storm better than those in other parts of the world.

Merrill Lynch has put Brazil's projected economic expansion at 2.9 per cent for 2009.

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