Brazil’s economy will resume growth in 2017, after two years of recession, but the expansion will lag behind the rest of Latin America, the United Nations said Tuesday in its annual report on global economic conditions. The report forecast Brazilian gross domestic product growth of 0.6 percent in 2017, rising to 1.6 percent in 2018. Latin America as a whole will grow 1.3 percent this year and 2.1 percent in 2018. Like Brazil, Latin America in general is recovering from a long recession. In Brazil’s case, however, the need for structural reforms is retarding efforts aimed at a more rapid recovery. On the positive side, the report said the entire region, including Brazil, will likely benefit from higher global commodities prices. The region has also succeeded in reining in inflation, leading to lower interest rates. Lower rates, in turn, will help spur economic growth.
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