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OECD: Brazil's 2012 GDP to expand slightly by 1.3%  Join our daily free Newsletter

MENAFN - 28/11/2012

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(MENAFN) The Organization for Economic Cooperation and Development (OECD) revealed that in 2012, Brazil's economy will expand by just 1.3 percent, posting the lowest growth rate among BRICS countries, reported Xinhua News.

The country's economy is affected by the euro zone debt crisis, however, in 2013, Brazilian gross domestic product (GDP) is expected to grow to 4 percent, and to rise to 4.1 percent in 2014.

It added that even though Brazil's economic performance was disappointing in the start of 2012, however, it has begun to recover and gain momentum, as a result of fiscal stimulus, tax reduction and the monetary easing measures, which are forecasted to boost economic growth.

In addition to Brazil, the BRICS group includes Russia, India China and South Africa, which according to the OECD would see their economies growing by 3.4 percent, 4.5 percent, 7.5 percent and 2.6 percent, respectively in 2012.

 






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