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2013 OECD Economic Outlook, Volume 2013 Issue 1

image of OECD Economic Outlook, Volume 2013 Issue 1

The OECD Economic Outlook is the OECD’s twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, chapters summarising developments and providing projections for each individual country, a special chapter on growth prospects and fiscal requirements over the long term, and a statistical annex.

 

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Brazil

Since end-2011, monetary and fiscal stimuli have supported a gradual recovery, although short-term indicators point to significant uncertainties. The unemployment rate remains at record-low levels. After several years inside the tolerance band, inflation has crossed 6.5%, which is the upper limit of the target tolerance band to be met at year-end, and inflation expectations for 2013 and 2014 remain above the inflation target of 4.5% (the mid-point of the band). Portfolio capital inflows have receded and macroprudential measures that had been put in place to manage them have been relaxed.

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