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LatinNews Regional Monitor: Brazil & Southern Cone - 15 May 2019

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In brief: Brazil

* 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.