News ID: 196737
Published: 0458 GMT July 16, 2017

Brazil's economic indicators show recovery from recession

Brazil's economic indicators show recovery from recession

Brazil's most recent economic indicators showed that the country is recovering from a two-year-long recession, Finance Minister Henrique Meirelles said.

"At the moment, there is no sign the growth path has been reversed. Several June indicators show advances, like energy consumption and vehicle production," he said, adding that the Brazilian institutions are solid, Xinhua reported.

"The economic team is focused on the economic reform, working day and night to ensure the country will resume growing," Meirelles said.

Though Brazil's most recent GDP figures were positive, showing a mild growth of the economy, the country is still under the effects of a long economic crisis.

Brazilian economists said last month that it was too soon to declare the country's two-year recession over, despite positive first quarter results.

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