Brazil Ministers Spar Over Potential Timing of Recovery
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Brazil’s Finance Minister Joaquim Levy doesn’t expect the economy to recover before 2016, in contrast to Budget Minister Nelson Barbosa’s more optimistic forecast of a comeback in the second half of this year, said a government official with knowledge of Levy’s view.
Levy considers that suggesting a recovery is just around the corner could hinder prospects of Brazil’s congress taking needed fiscal steps to boost growth, said the official, who asked not to be named because the matter isn’t public. Barbosa told reporters Friday that he expects an economic recovery to start in the second half.