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== Economy ==

== Economy ==

[[File:ChristredeemerRio.jpg|right|300px|thumb|''Christ the Redeemer'', overlooking Rio de Janeiro]]

[[File:ChristredeemerRio.jpg|right|300px|thumb|''Christ the Redeemer'', overlooking Rio de Janeiro]]

Brazil's economy, aided by a benign international environment, grew approximately 2.9% in 2005 and 3.7% in 2006. (Note: In early 2007, the Brazilian Institute of Geography and Statistics (IBGE) revised its methodology for computing gross domestic product and announced revised figures for 2000–2006.) Sustained growth, coupled with booming exports, healthy external accounts, moderate inflation, decreasing unemployment, and reductions in the debt-to-GDP ratio. President Lula and his economic team have implemented prudent fiscal and monetary policies and have pursued necessary microeconomic reforms.

Brazil's economy is the largest economy in South America, the second-largest economy in the Americas, and the ninth-largest economy in the world. It is aided by a benign international environment, grew approximately 2.9% in 2005 and 3.7% in 2006. (Note: In early 2007, the Brazilian Institute of Geography and Statistics (IBGE) revised its methodology for computing gross domestic product and announced revised figures for 2000–2006.) Sustained growth, coupled with booming exports, healthy external accounts, moderate inflation, decreasing unemployment, and reductions in the debt-to-GDP ratio. President Lula and his economic team have implemented prudent fiscal and monetary policies and have pursued necessary microeconomic reforms.

Brazil has made progress but significant vulnerabilities remain. Despite registering year-on-year declines from 2004 to 2006, Brazil's (largely domestic) government debt remains high, at 50% of GDP. Total foreign debt, while falling, is still large in relation to Brazil's export base. Over time this concern will be reduced by healthy export growth, which has anchored the positive trade and current accounts. Personal incomes improved since 2004 after a significant decline over the previous decade. Income and land distribution remains skewed.

Brazil has made progress but significant vulnerabilities remain. Despite registering year-on-year declines from 2004 to 2006, Brazil's (largely domestic) government debt remains high, at 50% of GDP. Total foreign debt, while falling, is still large in relation to Brazil's export base. Over time this concern will be reduced by healthy export growth, which has anchored the positive trade and current accounts. Personal incomes improved since 2004 after a significant decline over the previous decade. Income and land distribution remains skewed.

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Under Mr. da Silva, Brazil emerged as one of the world's major economies, along with Russia, India and China.   It is estimated that 30 million people joined the middle class during his eight-year presidency. [https://www.voanews.com/english/news/Rousseff-Sworn-In-as-Brazils-First-Woman-President-112749864.html]

Under Mr. da Silva, Brazil emerged as one of the world's major economies, along with Russia, India and China. It is estimated that 30 million people joined the middle class during his eight-year presidency. [https://www.voanews.com/english/news/Rousseff-Sworn-In-as-Brazils-First-Woman-President-112749864.html]

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