Posted by Boomer Abroad in Paulo Wroben , Mr Meirelles , Mexico , Luiz Inacio Lula da Silva , Latin American Property , Latin America , Brazilian Property Investors , Brazil Economy , Brazil Central Bank , Brazil
James Gonzalez, market analyst at Obelisk Investment Property, says that the country is "stable" under the leadership of President Luiz Inacio Lula da Silva and says the economy is "thriving" as the exports grew by nearly 15 per cent last month and people have the confidence to spend money. The Economic Commission for Latin America also reported that the country's stock market registered a healthy trade surplus of $3,700 billion (Â£2,456 billion). Mr. Gonzalez has said that this tendency looks set to continue for the rest of the year, which is likely to be good news for Brazilian property investors
Paulo Wrobel, from the commercial section of the Brazilian embassy in London states that South American nation is likely to perform better during the recession than developed countries because the markets are "very robust". Mr. Wrobel asserts that the regulations in place in Brazil are very strict for the last decade or so and the country has not seen the kind of turmoil experienced by other major powers.
He commented: "The construction is growing quite substantially but there was no madness in terms of lending for those without the capacity to pay."
A consensus between analysts in the field of Latin American finances has found that Brazil and Mexico will be the healthiest economies in Latin America in 2009, Property Abroad reports. Property investors in Brazil will also experience a stronger-than-average drop in inflation, the magazine asserts.
Meanwhile, Brazilian property investors could be interested to hear that Mr Meirelles, the president of the Latin American nation's Central Bank predicts the economy will grow at a rate faster than the global forecast of two per cent.