Notícias
Projections
OECD improves growth forecast for Brazil
Report released by the OECD predicts that inflation should close the year below the target - Credit: Agência Brasil
The Organisation for Economic Co-operation and Development (OECD) has improved its forecasts for Brazil's growth in 2017. Current estimates point to 0.7% growth this year, up from zero growth in March. “Brazil is finally emerging from a severe and prolonged recession," the forecast report said.
For the next year, the country's growth prospects also increased by 0.1 percentage point, to 1.6%. The OECD also says that the approval of the pension reform "will be crucial to sustain public finances", and predicts that unemployment should begin to decline by the end of this year and continue to gradually fall from then.
The OECD also pointed out that inflation has fallen significantly, and that it is expected to close the year below the 4.5% target.
Global growth
As for the global economy, the OECD's estimate is that it should grow by 3.5% this year and 3.6% by 2018. The estimate represents an improvement in comparison with the March projection (which predicted 3.3% growth), and if realised would mean the best performance since 2011.
Meeting
The OECD ministerial meeting began this Wednesday (7) in Paris, with the attendance of Finance Minister Henrique Meirelles.
Made up by 35 countries, the organisation is dedicated to the economic development of the most advanced nations in the world, although it already has emerging economies in its composition, including Mexico, Chile and Turkey.
At the end of last month, Brazil formalised its request to join the group. It will still be reviewed by the member countries.