An overview of the Brazilian economy

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Brazil is the largest country in size and population in comparison to other Latin American countries, and it is the seventh largest economy in the world by nominal GDP. Since the mid 2000’s, Brazil has become a more attractive global player: it has diversified its economy and its partnerships, and launched the Growth Acceleration Plan (2007) in order to increase investment in infrastructure and provide tax incentives for economic growth. Brazil has also decreased domestic poverty through development plans: according to the World Bank, poverty (people living with USD 2 per day) has fallen from 21% of the population in 2003 to 11% in 2009. An overall view of Brazilian economy shows that the level of foreign direct investment is increasing, the wages are rising, the middle class in growing, and the unemployment rate is low, which offers a wide range of opportunities in different areas. Despite the positive scenario, Brazil is an emerging economy and faces issues and challenges to be surpassed.

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