Brazil’s economy will grow by 3.0%, “or better,” in 2018, helped by increasing foreign investment inflows, Finance Minister Henrique Meirelles said Tuesday at the World Economic Forum in Davos, Switzerland. “We are in a situation in which we have consolidated Brazil’s recovery and its growth,” Meirelles said. He added, “Direct foreign investment in Brazil is already great and it’s getting even greater.” Meirelles pointed to the government’s plan to privatize electric power utilities holding company Eletrobras later this year as one lure for foreign investors. “This could be as important, or more important, than the privatization of the telephone companies in the 1990s,” he said. Meirelles said his mission at Davos was to drum up foreign investor support for the government’s concessions program as well as foreign investment in general. He was joined at Davos by President Michel Temer and other officials. Brazil suffered a deep recession in 2015 and 2016, followed by a tentative recovery last year. Economists expect GDP growth this year of 2.5% to 3.0%.
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