With Temer and Meirelles, Brazil becomes a dead weight for the global economy.
While forecasts for the global economy indicate faster-than-expected growth in the coming months, the outlook for Brazil is worsening compared to previous predictions, pointing to a 3,4 percent contraction compared to the earlier estimate of a 3,3 percent decline; data comes from the OECD (Organisation for Economic Co-operation and Development) Economic Programme.
From Reuters news agency
Global growth will accelerate faster than expected in the coming months, as planned tax cuts by the Trump administration and government spending boost the U.S. economy, while Brazil is expected to stagnate in 2017, the OECD said on Monday.
In its Economic Outlook, the Organisation for Economic Co-operation and Development revised its forecasts upwards, estimating that global growth will accelerate from 2,9 percent this year to 3,3 percent in 2017 and reach 3,6 percent in 2018.
Regarding Brazil's economy, the forecast for 2016 worsened, pointing to a contraction of 3,4 percent compared to the previous estimate of a 3,3 percent decline. However, the outlook for 2017 improved, with the OECD projecting stagnation compared to a contraction of 0,3 percent previously. For 2018, the organization sees growth of 1,2 percent.