Foreign investment in Brazil hits record high
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Brazil’s Central Bank says direct foreign investment in Brazil in the first nine months of 2011 has totalled $50.5 billion. That’s the highest since it started to measure investment in 1947.
According to the bank, the total is 123 percent larger than investment in the same period in 2010, up from $22.6 billion to $48.4 billion.
The bank has projected a total investment of $60 billion in Brazil in 2011.
Economists say Brazil is drawing foreign capital due to the upcoming World Cup in 2014, the 2016 Olympic Games, the discovery of immense deep-sea oil fields and sustained economic growth.
