Brazil GDP expected to grow 0.7% in 2017

A projection released by the Institute for Applied Economic Research (IPEA) Thursday (Mar. 30) indicates that the first quarter this year should report a 0.3% growth in the country's GDP, seasonal dynamics considered, breaking a streak of negative performances started in the last quarter of 2014.

For 2017, the institute estimates an increase of 0.7% in the Brazilian GDP. For next year, in turn, the expansion estimated stands at 3.4%, with the inflation rate at 4.5%.

According to José Ronaldo de Castro Souza Jr., IPEA's director for macro-economic policies and studies, the forecast for economic growth takes into account the recovery for industry and agriculture, expected to see supercrops of soybeans and grains.

Translated by Fabrício Ferreira