05/04/2017 | 8AM
In a statement made Tuesday (Apr. 4), Brazilian Finance Minister Henrique Meirelles said the measures adopted by the government make the country's economy more predictable and can bring back investment. The economy, he declared, is already recovering.
Without giving any specific date, the minister said that both national and foreign investments are to grow 30% in the upcoming quarters. “The country is clearly starting to grow, and we estimate a positive index as early as the first quarter of 2017,” compared to the last three months of 2016, he added.
The expansion will restore funds for new projects that were no longer financed in 2015 and 2016, when investments dropped 30%. During these two years the country's GDP shrank some 8%.
Meirelles spoke to a number of international investors and representatives from the defense sector from 170 countries in the LAAD Defense and Security fair, in Rio de Janeiro.
Source: Agência Brasil