Brazilian Government Reduces Expectations on GDP

11/11/2016 - 11h31

Not only has the economic team of the 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.

Now, the Minister of Finance, Henrique Meirelles, is working with a G.D.P. 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 U.S.

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.

Folha has learned that Temer's economic team is preparing a second step for its economic policy to be launched at the beginning of next year - the new phase focuses on microeconomic reforms to make the economy advance again 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.

Translated by THOMAS MUELLO

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	Jales Valquer/Fotoarena/Folhapress
	Finance Minister Henrique Meirelles