| Like other big commodities producers in Latin America, Brazil’s economy grew less than expected in the first quarter, hit by falling commodities prices amid lackluster global growth. But unlike most of its neighbors in the region, Brazil’s economy is proving far less resilient to the downturn in commodities.
Why? Just a week ago, Brazilian Finance Minister Guido Mantega said the government’s “anti-cyclical” spending boosts investment and stimulates growth. He suggested Latin America’s biggest economy would expand around 3.5% this year, recovering from a 0.9% expansion last year. On Wednesday, though, he conceded that Brasilia will now have to revise downward that forecast...............................................Full Article: Source
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