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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL - The government has just submitted to Congress its proposed Budget for 2016, together with the obligatory four year plan through 2019. The plan presumes a growth rate of 0.2 percent in 2016, together with inflation of 5.4 percent; in 2015, growth was -1,8 percent and inflation 9.2 percent.

These estimates are uniformly diagnosed by the market as unreal. Almost everyone expects a retraction in 2016, not growth; pessimists have begun to worry about 2017. Given the additional fact that the Subscribe to our Premium Membership Plan. Already Subscribed?