(MENAFN) It is believed according to a focus survey of dozens of economic organizations that the Brazilian economy will shrink by over 2 percent in 2016.
This marks the first time the Focus survey has predicted two successive years of economic contraction, and would be the worst GDP outcome for Brazil in 25 years.
Creeping inflation is also a source of ongoing concern, which forced The central bank to raise the benchmark Selic interest rate 16 times in the past two years, hoping to slow inflation.
Some global banks have named Brazil and Turkey as two of the most unbalanced economies in the world, both sharing a degree of political insecurity that has made foreign investors retreat.
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