Global economics analyst Saruhan Hatipoglu on Brazil’s economy

Global Business

Global economics analyst Saruhan Hatipoglu on Brazil's economy 1

Brazil’s brutal recession is deepening with no immediate relief in sight.

The country’s GDP shrank in the first quarter- though it wasn’t as bad as previously thought.

Reports say the heavy government spending to impeach President Dilma Rousseff helped cushion the blow.

But that respite vanishes when one looks at the jobless rate which has hit its highest level since 2012.

Looking at growth year-on-year reveals a worse picture – the country’s GDP has now shrunk nearly five and half percent.

The Organization for Economic Cooperation and Development expects the recession to continue well into 2017.

For more on Brazil’s economy, CCTV America’s Rachelle Akuffo spoke to global economics analyst Saruhan Hatipoglu.