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Worst is over for Brazil's economy, says minister

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Staff Writer | January 17, 2017
The worst is over for the Brazilian economy, which is likely to start growing in the first quarter of 2017 after two years of recession.
Henrique Meirelles
Economy in Brazil   "We are seeing a recovery"
Finance Minister Henrique Meirelles said that in an interview with newspaper O Estado de S. Paulo.

Meirelles also said the central bank's decision to cut interest rates last week was "solid", technically justified and will help the economy grow quickly.

"We are seeing a recovery in the first quarter of 2017," Meirelles said.

Brazil's economy probably shrank more than 3 percent for a second straight year in 2016, according to government and market forecasts.