Investors seem confident that an economic recovery is under way
But there is still plenty that could go wrong
AFTER a grinding two-year recession, the longest in Brazil’s history, a recovery has been slow to materialise. The IMF expects GDP growth of just 0.3% this year. The joblessness rate is 13%. Last year’s fiscal deficit, including large interest payments, was nearly 9% of GDP. Lower-than-expected tax receipts have forced the government to accept that for the next four years the budget deficit will be higher than planned.
This article appeared in the The Americas section of the print edition under the headline “When will the future arrive?”
From the August 19th 2017 edition
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Entrevista con Javier Milei, presidente de Argentina
Transcripción de su encuentro con nuestro corresponsal
An interview with Javier Milei, Argentina’s president
A transcript of his meeting with our journalist
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Javier Milei, free-market revolutionary
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