Brazil’s Minister of Industry, Foreign Trade and Services, Marcos Pereira, says the country’s economy is recovering from recession, Agência Brasil reports.
The report says Brazil has to continue to implement structural reforms to uphold the economy’s momentum.
“When we assumed the government, there were no signs that the Brazilian economy would resume its growth so soon,” Mr Pereira was reported as saying.
Brazil’s GDP contracted by 3.6 percent in year-on-year terms last year, the second year in a row it had shrunk.
The International Monetary Fund estimates Brazil should return to growth this year, registering 0.2 percent growth this year and 1.7 percent next year.
