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Posts Tagged ‘future prospects’

The flow of direct foreign investments in Brazil has already surpassed the figure foreseen by the Brazilian Central Bank for the whole of 2008. According to the Central Bank, the total value of foreign investments in the country were US$ 37,1 billion, well above the predicted figure of US$ 35 billion.

The value refers to direct investments done by foreign organizations buying Brazilian companies or investing into the expansion of production capabilities of firms already settled in the country. The Central Bank estimates that, in total, multinational corporations have up to US$ 370 billion already invested in the South American country.

The flow of investment occurred by now is also superior to the US$ 34,6 billion reported in 2007, until then, the highest result since the Central Bank began registering investments in 1947. Central Bank’s Economic Department Chief, Altamir Lopes, says that as oppose to stock market investors, direct investments have long-term objectives, which explains the positive results achieved even during a critical period in the world economy.

“Direct foreign investments are long term resources that keep flowing in a satisfactory way. This is a consequence of a overall perception that the Brazilian economy has solid foundations”, said Mr Lopes.

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Unlike in the rest of the world, sales in Brazil are going up, showing the economic resilience of South America’s largest economy. Sales in September raised 9.4 percent, particularly on IT and computers. Check below a report from The Miami Herald today.

Brazil’s retail sales rose more than economists forecast in September, a sign that consumer demand in Latin America’s biggest economy remained resilient as the global credit crisis began to deepen. Retail sales jumped 9.4 percent in September from a year ago, pushed by a 51 percent surge in computer sales, the national statistics agency said Tuesday.

The increase beat 20 of 28 estimates in a Bloomberg survey of economists, whose median forecast was 8.8 percent. Sales growth was less than the 9.9 percent increase in August. Brazilian President Luiz Inacio Lula da Silva, seeking to build on consumer demand growth, is using state banks to boost lending to carmakers, home builders and consumers and meet an economic growth target of 3.7 percent next year. Economists such as WestLB’s Roberto Padovani in Sao Paulo said the September sales report is a sign that consumer sentiment was holding steady.

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