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IMF reduces Brazil's growth forecast to 1.8% in 2018

The International Monetary Fund (IMF) has revised Brazil's growth forecast for 2018. According to the organization, the estimate is for the country to grow by 1.8%, previously equivalent to 2.3%. The IMF still attributes the reduction to the decision to stop truck drivers and the worsening of global economic conditions. IMF Director for the Americas Alejandro Werner said the May truck stoppage that lasted about 10 days was a "very important" factor in this review. Also weighed the uncertainty of the presidential election - whose outcome can still change the growth forecasts down. The IMF has once again stressed the need for a pension reform in Brazil, considered as "a fundamental measure" towards fiscal balance. (Photo by Cris Faga/NurPhoto)

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