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Brazil should grow 2.5% in 2018, says Planning minister

Economic projections

During the event, Dyogo Oliveira made predictions about growth and considered that the recession was unsuccessful

After the measures adopted by the government to reorganize the public accounts and make Brazil more competitive, the country's economy is expected to grow by 2.5% in 2018. The projection comes from the Minister of Planning, Development and Management, Dyogo Oliveira, and was made during the opening of the 20th Brazilian Congress of Insurance Brokers.

"The economic policy and the measures already adopted by the government have brought significant GDP recovery," the minister said. "We can say that we have reached the end of the recession after eight quarters with negative rates," he argued.

Oliveira also mentioned indicators that suggest a change in the scenario, such as inflation, interest rates, confidence indicators and the country risk perception, which has declined sharply in the last 12 months.

Reform of Social Security

According to the minister, the pension reform is crucial to ensure a scenario of sustainable growth in the long term. It is essential to avoid the collapse of public accounts and to ensure the continuity of ever-increasing investments in important areas such as health, education and security, and in the well-being of the Brazilian population.

"The approval of the pension reform will enable employment generation and income growth, improving the socioeconomic conditions of our population," he said. "The long-term fiscal balance anchors expectations in a solid way, enabling a sustainable reduction of long-term interest rates," he explained.

Source: Government of Brazil, with information from the Ministry of Planning, Development and Management