Study Shows Brazil Growing at Least 3% for Next 5 Years Despite World Jitters

Downtown São Paulo A study by the Economic Commission for Latin America and the Caribbean (Eclac) shows that Brazil is going to grow more than Latin America and the Caribbean this year. While the region should grow 4.7%, according to the Eclac, the Brazilian economy should grow 4.8%. This should be the sixth consecutive year of growth in Latin America and the Caribbean.

The growth should be smaller than last year, when it reached 5.7%, but the region, according to the Eclac, should have another five years of sustainable growth of per capita income, of over 3%. A similar period in the history of the region was registered around 40 years ago. The Eclac shows that growth has been taking place despite the unfavorable global scenery.

According to the Eclac, up to 2007 the region grew with the support of a favorable economic conjecture, which was translated into greater export demand, boosted by the Chinese and Indian markets. The region that most benefited, in this case, was South America. Central America, which exports oil, did not benefit as much.

The Eclac study also shows improvement, in Latin America and the Caribbean, in labor market indices. The rate of unemployment has been falling since 2003, reaching 8% in 2007 and expected to reach 7.5% by the end of this year.

Poverty also continued dropping. This is due, according to the Eclac, to the growth of the economy, to reduced unemployment, to an improvement in the quality of work posts created and to greater salaries.

However, poverty is still high, reaching over 36% of the population, or 190 million people in Latin America and the Caribbean.

Anba

Tags:

  • Show Comments (1)

  • Frank

    Brasil
    Thanks for keeping up this great website!
    I love to stop by and read your,s great article about Brazil!

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

85% of Businessmen in Brazil Betting They’ll Make More Money This Year

Brazilian businessmen are more optimistic for 2010 regarding their revenues. That’s what the Serasa ...

Marina Silva Exposes Rousseff’s Vulnerabilities and Has a Real Chance to Become Brazil’s President

Brazilian environmentalist Marina Silva could unseat incumbent Dilma Rousseff in Brazil’s presidential elections in ...

Calling the Tune

Which are the best Brazilian songs ever? Seven among the 10 best were composed ...

Brazil Weans Off Bolivian Gas Looking Elsewhere for Product

Brazilian President Luiz Inácio Lula da Silva said that Brazil can't depend for its ...

Brazil Doing Bad, Lula Doing Good

At the beginning of the Lula term of office, the time people were willing ...

Despite Bad Weather Brazil Expecting Record Harvest This Year

The 2008 harvest of cereals, legumes and oilseeds for Brazil has been estimated to ...

Frontpage of Folha de S. Paulo shows damage from Israeli air attack in Lebanon

A View from Brazil: Israeli Attacks Are a Crime Against Humankind and Democracy

Another Brazilian Air Force jet reaches the homeland carrying wearied vacationers turned war refugees. ...

Argentina Rescues Cruise Liner Filled with Brazilians

A cruise vessel with 1.612 passengers, mostly from Brazil, finally managed Thursday early afternoon ...

Despite Being Illegal 1/3 of All Pregnancies End in Abortion in Brazil

In Brazil, the criminalization of abortion does not reduce the number of instances of ...

Chile’s President Elect Hints Lula Might Not Make His Successor

Chilean president elect conservative Sebastian Piñera, the man who handed the political left in ...