Worst over for Brazilian economy yet measures needed: report
2013-03-28 18:17:30
The Brazilian economy has managed to tide over the worst time but still needs adjustment measures, an institute reported on Tuesday.
Brazil's Institute for Applied Economic Research (IPEA) said the country's 0.6 percent growth rate in the last quarter of 2012 was the highest of the last six quarters, indicating the worst was over.
The IPEA also said this "cyclical recovery" of the Brazilian economy was different in key ways from previous recoveries.
In order to boost growth, the IPEA stressed that investments, which fell 4 percent in 2012, should be increased.
According to the institution, that process has already begun, with investments starting to rise again in the last quarter of 2012. However, the government should find more ways to spur investment, so that the country's economic growth does not depend mainly on public and consumer spending.