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Friday, October 20 2017 @ 01:12 AM AST

Scotiabank: Brazil economy showing evidence of recovery

"The economy is showing evidence of a gradual recovery. Conf idence indicators are improving in line with solid price stabilization. Formal employment has reversed a negative growth trajectory. Foreign investment inflows are accelerating as the government advances structural (fiscal and pension) reforms. After declining by 3.6% in 2016, real GDP will expand by 0.5% this year before accelerating to 2.5% in 2018. The public sector ear marked a large-scale infrastructu re investment programme as a key driver of economic activity through the remainder of the dec ade. Industrial production is esti mated to recover positive gro wth rates in 2017-18. Domestic consumption will also benefit from an ultra-stimulating monetary po licy adopted by the central bank.

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