The fiscal stance is mildly contractionary over the projection period, which strikes an adequate balance between macroeconomic stability requirements and the need to restore the sustainability of public finances through a credible medium-term consolidation path. An effective fiscal adjustment would allow monetary policy to loosen further and support a recovery of investment. Raising productivity will depend on strengthening competition, including through lower trade barriers, fewer administrative burdens and improvements in infrastructure.
GDP growth | |||
2013 Current prices BRL billion |
2016
|
2017 % real change |
2018
|
5 316.5 | -3.4 | 0.0 | 1.2 |
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©OECD Observer No 308 Q4 2016
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