Industry and foreign trade minister: Brazil economy recovering from crisis

In a statement made Monday (May 2), Marcos Pereira, Brazil's Ministry for Industry, Foreign Trade, and Services said the Brazilian economy has started to recover, though not at the pace desired by the government.

“When we assumed government, there were no signs that the Brazilian economy would resume its growth so soon. The recession was expected to continue, along with the decline in the country's GDP.”

The minister noted that the economy managed to perform better last year than had been expected by some pessimistic forecasts. The GDP, according to the projections, should have slid 3.8% in 2016, but dropped a mere 3.3%. In 2017, in turn, estimates now point towards a growth. “It's not what we'd like to see,” the minister said. He stressed, however, that figures  being better than the expected is good for the country. For the economy to perform even better, he argued, the country must approve its structural reforms. Pereira said the overhauls will ensure the recovery of growth.

This Tuesday, Pereira took part in the inauguration ceremony of civil servants who ed the public examination held by the National Institute for Industrial Property (INPI), in Rio de Janeiro.

Translated by Fabrício Ferreira