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Growth in Brazilian economy not expected until H2 2017

Monday, 19 December 2016 23:27:41 (GMT+3)   -   Sao Paulo
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The Brazilian economy is expected to grow only in the second half of 2017, according to the nation’s confederation of industries, CNI.
 
CNI said the growth of the Brazilian economy is only expected for the second half of the year due to the unbalance in the country’s public finances and the idleness of the country’s industrial sector.
 
According to CNI, Brazil’s gross domestic product (GDP) should increase 0.5 percent in 2017, while the country’s industrial GDP should improve 1.3 percent in the upcoming year. Investments are forecast to increase 2.3 percent in 2017 in a scenario of high unemployment and weak consumption.
 
CNI forecast the industrial segment should account for 22.3 percent of Brazil’s total GDP in 2017, up from 22.1 percent in 2016.
 
Brazil’s unemployment rate should reach 12.4 percent in 2017, while inflation should be at 5 percent in the same year, down from 6.6 percent in 2016, CNI estimated.

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