Brazil Economic Outlook. Fourth Quarter 2015

Summary

Political turbulence curbs the fiscal adjustment and fuels the uncertainty, undermining the economy. Longer and deeper recession: GDP will contract sharply in 2015 and will drop again in 2016. After peaking around 10% at the end of 2015, inflation will moderate in 2016 but will remain high. A more depreciated exchange rate will allow the current account deficit to decline.

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