IMF cuts Brazil growth es­ti­mate for 2018

Muscat Daily - - BUSINESS -

Brazil's econ­omy ap­pears to have turned a cor­ner, but po­lit­i­cal un­cer­tainty is on the rise, prompt­ing the IMF to cut its 2018 growth fore­cast for the re­ces­sion-hit coun­try.

The re­cov­ery is likely to be 'sub­dued' be­cause 'a re­cent rise in po­lit­i­cal un­cer­tainty has cast a shadow over the out­look,' the IMF said in its an­nual re­view of the Brazil­ian econ­omy.

The IMF now fore­casts growth rise to 0.3 per cent this year.

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