Brazil’s economy has turned a corner, according to the country’s president. If that’s true, its exchange traded fund (ETF) could continue to enjoy the handsome performance it’s been delivering year-to-date.

President Luiz Inacio Lula da Silva announced that Brazil’s economy is showing sings of a recovery on all sides, thanks to a host of measures the country implemented to mitigate the effects of any recession.

• Employment and industrial activity are strong and on a growth pattern, and interest rates are at historic lows, says Ana Nicolaci da Costa and Ana Paula Paiva for Reuters.

• Foreign capital continues to pour in and the country is on track to be one of the first countries to officially exit the recession.

• Jason Simpkins for NuWire Investors reports that Brazil’s GDP likely grew 2.2% in the second quarter, and the Prime Minister is calling for economic growth by 4-5% this year.

• The gap between the country’s richest and poorest denizens has stopped growing and could even be shrinking thanks to tax breaks, increased consumer credit and cash transfers to the poor, explains Mac Margolis for NewsWeek.

Of all emerging markets, Brazil entered into the recession with a better prospect for recovery, as its solid banking system, low inflation and tight monetary policy allowed the government to prime the economic pumps with lower lending rates while other countries were practically giving money away.

• iShares MSCI Brazil Index (EWZ): up 73.3% year-to-date

For more stories about Brazil, visit our Brazil category.

Tags: Brazil, Emerging Markets, EWZ, Global ETFs, Latin America