Brazil’s Meirelles sees 0.7 pct to 0.8 pct Q1 GDP growth

May 2 Brazil’s economy will post growth of between 0.7 percent and 0.8 percent in the first quarter, turning the corner on a two-year recession, Finance Minister Henrique Meirelles said on Tuesday.

In an interview with GloboNews cable channel, Meirelles said Brazilian companies will have to start to restock inventories and draw up investment plans.

Latin America’s largest economy shrank 0.9 percent in the last three months of 2016, its eighth straight quarter of retreat. Unemployment has hit a record 13.7 percent with more than 14 million Brazilians looking for work.

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