Foreign investment in Brazil outstrips economists' expectation
Foreign direct investment (FDI) in Brazil during March has reached $2.78 billion (£1.39 billion) - considerably more than had been predicted by many economists, according to a new report.
The news follows the release of more positive economic data from Brazil's central bank, which also revealed that the country's current account surplus has grown.
Bloomberg news agency reports that a poll of 12 economists revealed that they had an average estimate of FDI in Brazil running at $1.38 billion, when in fact the figure for March stood at twice this amount.
Zeina Latif, an economist with ABN Amro, explained: "Brazil has managed to attract foreign investors as its economic fundamentals are in order and the world's economy is heated."
Despite the promising FDI figures, the central bank has opted to keep its prediction as it is at present.
Recently, Brazil revealed that economic growth reached 3.7% during 2006 - up from the previous figure of 2.9%.
The change was a result of adopting international standards for reporting economic results.
< Back to latest news