Brazil economy still set for growth
The Brazilian government has backed the country's economy to grow despite the global financial turmoil - suggesting property buyers might view the local market as a viable location for investment.
Brazil's finance minister Guido Mantega said the government had sufficient confidence in the country's ability to avoid a recession that it would eschew the type of stimulus package favoured by countries including the UK.
Mr Mantega went on to say that Brazil's economy was better placed than many of its rivals, further emphasising the attractiveness of the country as a property investment option.
"There won't be a recession, there will be a deceleration and once that juncture is passed, we will be in favourable conditions to continue growing," Mr Mantega confirmed.
"Brazil is in a more favourable situation than that of the rich countries and also in relation to the rest of the emerging countries."
Mr Mantega was appointed Brazil's finance minister in March 2007 after his predecessor, Antonio Palocci, resigned following a corruption scandal.
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