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Brazilian economy well placed for the future
28/12/2011
A recent report has detailed how Brazil’s economic future looks positive and the country seems set to continue to boom.
Rolls Royce boss Francisco Itzaina told BBC reporters, from his Rio de Janeiro office, that, “Brazil is very well placed for the future... God blessed Brazil with huge amounts of natural resources.”
One of the so-called BRIC nations (along with Russia, India, and China), Brazil’s economy has boomed in recent years, with growth far outstripping America and western Europe. In fact, Brazil has overtaken the UK as the sixth largest economy, according to data from the Centre for Economics and Business Research.
The Brazilian economy grew by 7.5 per cent in 2010 and 3.5 per cent in 2011. Although growth slowed, President Dilma Rousseff said this was more to do with the eurozone crisis that any internal factors.
Brazil has a number of positive factors in its economic favour. It has minerals, water and large reserves of oil and gas. Its population of 195 million also gives it a strong domestic market.
Mr Itzaina told the BBC, "Brazil's exports account for between 13 per cent and 14 per cent of its economy, China is more like 40 per cent. So while exports are obviously important for Brazil, and it wants to increase them, it is not dependant upon them."
Rolls Royce boss Francisco Itzaina told BBC reporters, from his Rio de Janeiro office, that, “Brazil is very well placed for the future... God blessed Brazil with huge amounts of natural resources.”
One of the so-called BRIC nations (along with Russia, India, and China), Brazil’s economy has boomed in recent years, with growth far outstripping America and western Europe. In fact, Brazil has overtaken the UK as the sixth largest economy, according to data from the Centre for Economics and Business Research.
The Brazilian economy grew by 7.5 per cent in 2010 and 3.5 per cent in 2011. Although growth slowed, President Dilma Rousseff said this was more to do with the eurozone crisis that any internal factors.
Brazil has a number of positive factors in its economic favour. It has minerals, water and large reserves of oil and gas. Its population of 195 million also gives it a strong domestic market.
Mr Itzaina told the BBC, "Brazil's exports account for between 13 per cent and 14 per cent of its economy, China is more like 40 per cent. So while exports are obviously important for Brazil, and it wants to increase them, it is not dependant upon them."
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