Brazil economy to grow 3% in 2015

Brazil's economy is forecast to expand by three percent next year, picking up briskly after years of stagnant growth, a top government economist said on Tuesday. Miriam Belchior, Brazil's minister of planning, said in a report presented to the national legislature that inflation for Latin America's biggest economy was expected to be five percent next year. Recent growth has been slow in Brazil, in part because of the economic drain of playing host to the World Cup, as well as weak infrastructure and low private investment reflecting a lack of confidence in industry. In 2013, Brazil's gross domestic product grew a modest 2.3 percent for a third consecutive year, compared to a torrid pace of 7.5 percent in 2010. The International Monetary Fund last week predicted a 2.7 percent rate of growth in 2015 for Brazil.