* Brazil’s economy minister,
Paulo Guedes, said that the government is now working with GDP growth predictions of 1.5% for this year, down from earlier projections of around 2%, although this is yet to be formalised. Guedes was speaking before a congressional committee in the federal chamber of deputies, to whom he repeated the importance of the rapid approval of the government’s reforms, as the economy has “
bottomed out”. The monetary policy committee (Copom) of Brazil’s central bank (BCB) has recently indicated that it expects an interruption of Brazil’s slow economic recovery with a contraction of GDP growth in the first quarter of 2019, although economic activity should pick up again later in the year.
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