Presentation Brazil Economic Outlook. Second quarter 2017

Activity indicators suggest that the economy started to grow again in 1Q17 after having contracted for eight consecutive quarters. We expect GDP to grow by 0.9% in 2017 and by 1.8% in 2018. The approval of a social security reform would allow the government to adjust public expenditure and meet the new fiscal rule, and therefore to consolidate the prospects of recovery.

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