By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The federal government of Brazil delivered yet another blow to the country’s ailing economy on Thursday by announcing that it now estimates a retraction in the country’s GDP for 2016 of one percent. Earlier in the week the government had revised its retraction of the GDP of 2015 from 2.44 percent to 2.8 percent.

Financial analysts, however, are predicting a more negative scenario. For 2015 market analysts forecast a retraction of the Subscribe to our Premium Membership Plan. Already Subscribed? Login Here