How has Brazil been able to achieve no economic drops? Their economy actually grew in 2008 while others were experiencing losses, up 5.4% in fact. Not a bunch, but when you look at the economy in other countries you see nothing but plight.
Many people who have advised investors before have said that of the BRIC nations, that Brazil has the strongest economy. Those nations are Brazil, Russia, China and India. The mortgage problem hasn't even seemed to bother the country. And the economy in Brazil is growing more still.
Banks in Brazil never sold any of their mortgages and the people own 70% of homes. It's really an amazing feat when you look at how all other countries have experienced problems in their economies. Showing that the economy in Brazil is growing continually each year.
The president is the direct reason behind this good fortune, swearing he would make the economic development of Brazil his number one priority. He's done a fantastic job, and has helped in pulling in other Latin nations to support US ideas.
This growth has also allowed Brazil to be able to pay off their International Monetary Fund ahead of time. A year in advance, something that isn't heard of normally even. President Lulu took the funds for the final payment of 15. 46 billion dollars from the reserves.
Though many people will always complain about things, and this is a case where that is to be true too. People complain that only the people in higher classes are receiving the benefits of the economy being so much better. And another cause of frustration seems to be not enough energy or focus is being placed on the education system.
President Lula has created a few organizations that help other nations with many things. Brazil is a great example of a country that is run well, and has succeeded.
