(MENAFN) According to a report released, the Organization for Economic Cooperation and Development (OECD) predicts that Brazil's economy will contract 0.5 percent in 2015, Xinhua reported.
The figure represents a downward adjustment of its earlier November forecast, which projected 1.5-percent growth for the South American giant, the OECD said in the released report.
Brazil is also projected to struggle in 2016, with predicted growth of 1.2 percent, down from the 2 percent forecast in November and the lowest growth rate of the countries listed.
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