Brazil seems very attractive looking ahead in 2019
- Trading Tips
- 2 months ago
Since the election of its new president, Jair Bolsonaro, in last October, Brazil has once again made investors look closer as to what prospects lies ahead.
The country’s currency, the Real (BRL) seems to be the most attractive amongst the emerging markets for this year as the new far-right wing regime aims to bring the economy to where it was prior to former presidents Lula and Rouseff’s indictments.
The currency has risen by 13% since September and Brazil’s benchmark equity index has also increased by 17%, as investors keep high hopes on assets as Bolsonaro aims to keep his promise regarding the economy.
Finance minister Paulo Guedes is a University of Chicago graduate and is pro-privatization and regulatory restructuring which the country needs, such as reduction of taxes, deflating of the pension system and is aiming to drive the purchase of state-owned assets to foreign and local investors.
Source: Smart Trend Team