Brazil with a population around 201,032,714, is the largest South America’s country. Brazil’s most important components of its GDP are service revenues, wide industry sector and its successful agriculture.
For More than two decades Brazil suffered badly from high inflation, economic decline, domestic and foreign debt. In 1993, country’s Inflation reached 30 percent a month and as a result the country wouldn’t sustain growth. After many unsuccessful plans to control the inflation, finally Real Plan of Fernando Henrique Cardoso, minister of finance, worked out and brought the inflation down to a single digit.
Today, Brazil with a GDP of $2.533 trillion is the 7th largest economy in the world and it is also considered as one of the most successful emerging countries. Despite all predictions, thanks to its huge domestic market and agriculture, the country maintained its growth in 2009 and 2010.
The purpose of this paper is to demonstrate how Brazil, a country with an extremely high rate of inflation and low growth, positioned itself as the 7th largest economy of …
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