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| Brazil economy contracts for the first time since 2016 | Brazil economy contracts for the first time since 2016 |
| (32 minutes later) | |
| Brazil's economy shrank in the first three months of the year for the first time since 2016, when the country was in recession. | Brazil's economy shrank in the first three months of the year for the first time since 2016, when the country was in recession. |
| It contracted by 0.2% compared with the last three months of 2018. Compared with a year ago, it grew by 0.5%. | It contracted by 0.2% compared with the last three months of 2018. Compared with a year ago, it grew by 0.5%. |
| The fall comes at time when Brazil's president Jair Bolsonaro is facing scrutiny of his efforts to revive the economy. | The fall comes at time when Brazil's president Jair Bolsonaro is facing scrutiny of his efforts to revive the economy. |
| During a two-year recession in 2015 and 2016 the economy shrank by almost 7%. | During a two-year recession in 2015 and 2016 the economy shrank by almost 7%. |
| If the economy shrinks again the second quarter, the country, once regarded as having huge growth potential, will be in recession again. | |
| It was designated as one of the Brics - which along with Russia, India, China and South Africa could outpace developed economies by 2050. | |
| In the first three months of the year there was a drop investment and a decline industrial and agricultural output. | |
| While the contraction was in line with expectations it is an early indication of economic performance since Mr Bolsonaro took power in January and appointed businessman Paulo Guedes as "super-minister" of the economy. | |
| Analysis: By Daniel Gallas, South America Business Correspondent | |
| When Jair Bolsonaro was elected, Brazil's stock market and currency both bounced up - showing just how confident markets were in the new government. | |
| Mr Bolsonaro had given carte blanche to his economy minister, businessman Paulo Guedes, to act on reforms. | |
| Almost five months later there is much disappointment with the government and with the economy. | |
| Mr Guedes has been the target of friendly fire: attacks from other ministers, resistance in Congress from Mr Bolsonaro's own party and even calls for state intervention coming from the president himself. | |
| He has also repeatedly threatened to leave the government if he doesn't get his way with Congress. | |
| Markets now believe Brazil will only start to show any significant growth next year. |