Brazil poised to emerge from recession, says IMF
The International Monetary Fund (IMF) has said the Brazilian economy is poised to emerge from the recession, but the outcome depends on the government passing its proposed fiscal reforms. This finding is in the IMF's annual report on Brazil released on Tuesday (Nov. 15).
According to the IMF, the Brazilian economy should begin to recover gradually in the second half of this year following the approval of the austerity reforms, but is still expected to shrink 3.3% in 2016. The projection for 2017 is 0.5% growth.
The IMF has also praised the Brazilian government's intention to cap fiscal spending and reform the pension system. However, it still sees domestic risks for the economic outlook (including failure to approve the reforms), as well as external risks considering the slow growing pace of emerging economies and the low prices of export commodities.
Translated by Mayra Borges
Fonte: Brazil poised to emerge from recession, says IMF
