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Brazil economy contraction to last through 2016: bank

Poor growth numbers come as the world's seventh largest economy is struggling with a political crisis and a massive corruption scandalBrasília (AFP) – The outlook for Brazil’s economy worsened Monday with GDP contraction forecast to extend into next year and inflation projections also slightly rising. A central bank survey of economists showed the economy is on course to shrink 2.01 percent this year and for the first time indicated that the contraction will continue through 2016 with a shrinkage of 0.15 percent.

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