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In Davos, Meirelles makes optimistic forecast for economy

In Davos, Meirelles makes optimistic forecast for economy

Finance Minister says GDP growth may exceed 3 percent expected by the government for 2018. Asked about elections, Meirelles says investors are constantly calling for his candidacy for the presidency.

Henrique Meirelles was in Davos to attend the World Economic Forum
In Davos, Switzerland, Finance Minister Henrique Meirelles made optimistic forecasts for the Brazilian economy. Meirelles said that growth in Brazil's gross domestic product (GDP) could exceed the 3% forecast by the government for 2018.
"We are in a situation where Brazil's recovery trajectory has been consolidated," said the minister in an interview after attending a lecture. "The IMF is always more conservative, as it should be, normal. But, of course, Brazilian analysts have more information about it. I believe that [GDP] growth will be closer to 3% or even surpass 3%," he added.
Meirelles' forecast is above that of the International Monetary Fund (IMF). The institution estimates that growth in the country should reach 1.9% in 2018. Meanwhile, the financial market forecasts growth of 2.7%.
In Davos at the World Economic Forum, the minister also highlighted the growing interest of foreigners in investing in Brazil. "It is normal for many [investors] to take a little more caution in the election period, waiting for the events to unfold, but there is a lot of interest in it. Direct investment in Brazil is big and tends to grow," he said.
Meirelles also defended the privatization of Eletrobras, whose proposal was forwarded by the government to Congress, and said the administration of Michel Temer will win the battle to approve the sale of the state.
Temer arrived in Davos on Wednesday and gave a speech at the World Economic Forum.
According to the organizers of the event, the 2018 edition has a record participation of heads of state and representatives of international organizations, as well as leaders from business, civil society, academic world, arts and media.