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Economy & Business - February 2008 (ISSN 1741-7430)

BRAZIL: Booming

It is little surprise that President Lula Inácio de Silva's popularity rating are at a five year high. The economy is doing well. Industrial production in 2007 was up by 6%. This was the best result since 1984 and is doubly impressive given the strength of the real against the dollar in 2007. The crucial agribusiness sector looks set for a decent 2008: on 12 February the Companhia Nacional de Abasticimento forecast that, despite the near drought, the harvest in 2008 would be 3.5% higher than it was in 2007 at 131.7m t of grains and oilseeds. This will set a new record.

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