Brazil's Central Bank predicts economic crisis until 2018

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Economic crisis creates unemployment in the automotive sector
The Central Bank of Brazil (BC) revised its estimate of contraction of the economy in 2015 to 3.6%. The inflation in 2015 was 10.8%, more than double the center of the official target of 4.5%.

For 2016, the forecast for economical growth remains negative. Similar to what happened in 2015, it is expected that more factories close their doors and unemployment in industry and commerce, will grow disproportionately.

According to ministers and senior official of the government, the situation is uncertain and will depend on external factors such as the Chinese economy and the US elections.

Agricultural production is expected to grow 1.7% and 0.5% in two years and is the only sector of the economy with positive growth. The basic interest rate (14.25% pa) and the dollar at BRL 4.00 should be maintained at least until 2018.

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