Less than a month from first historic Olympics in South America, which will be held in Rio de Janeiro from 5 to 21 August next, the Brazilian economy is once again giving positive signals. The country is in full political crisis, with the government led by Michel Temer after the suspension for impeachment of Dilma Rousseff, and the management of the Games has also been quite "cheerful", with budget holes and cases of corruption that still raise fears organizational flop: despite this, according to new government estimates, the economy will return to growth in 2017 with the GDP expected at +1,2%. The transitional executive also estimates a downward primary deficit, at 37,5 billion.
As for the gross domestic product, the recovery comes after a disastrous 2015, in which the figure collapsed, marking the worst decline since 1990: the economy of the South American giant in fact recorded a contraction of 3,8% in the calendar year, the figure heaviest in the last 25 years, when GDP slipped by 4,3%. In the last quarter of last year alone, GDP fell by 5,9% compared to the same period in 2014. Brazil is suffering from falling commodity prices, a contraction in investments and spending cuts, as well as a political system blocked by numerous cases of corruption at the highest levels. But signs of recovery, also thanks to the Olympic benefits, would be just around the corner.
