Silvio Cascione – Reuters, 7/10/2015
Brazil’s recession will extend into next year, hurting President Dilma Rousseff’s efforts to shore up public finances and arrest a sharp increase in unemployment, Itau Unibanco’s chief economist said in a report on Wednesday.
Itau Unibanco is the largest financial institution yet to forecast Brazil’s gross domestic product will shrink for a second straight year in 2016, according to Reuters Polls data.
Ilan Goldfajn, the bank’s chief economist, forecasts a drop of 2.2 percent in 2015 and 0.2 percent in 2016, down from previous estimates for a decline of 1.7 percent in 2015 and an increase of 0.3 percent in 2016.
Brazil Portal 