World Economy

Brazil Reduces GDP Expectations

Brazil Reduces GDP ExpectationsBrazil Reduces GDP Expectations

Not only has the economic team of the President Michel Temer administration given up expectations on a recovery of the economic growth in Brazil at the end of this year, they now have reduced their forecasts regarding 2017, FolhaPress reported. Now, the Minister of Finance Henrique Meirelles is working with a GDP growth of some 1% for next year, in comparison with the previous official forecast of 1.6%. The new forecasts could decline even further after Donald Trump’s victory in the US. Presidential advisors say that the Republican government still represents a question mark and could lead to turbulence in the global markets, affecting the pace of the Brazilian economy. Temer’s economic team is preparing a second step for its economic policy to be launched at the beginning of next year which focuses on microeconomic reforms with measures in the fields of productivity and competitiveness. The Brazilian government has already made a deal with the World Bank to draw up a set of measures in the sectors of energy and transportation.


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