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Life still left in Brazil’s recovery

Brazil’s economy has been losing momentum for several quarters, but it’s premature to think that the recovery is now over. Indeed, the conditions seem to be in place for growth to strengthen again in the coming months and our forecasts for 2018-19 sit above the consensus. But while most analysts are too downbeat on Brazil’s near-term prospects, we think they are too optimistic on the medium-term outlook.

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