Belief in Brazil's emergence from the 2014-16 slump has grown substantially over the past year. While the latest growth performance, 1.4 per cent annually in Q3 2017, remains tepid, there are confident expectations of 2-3 per cent growth this year. Business and consumer confidence is booming: according to Getulio Vargas Foundation (GVF), both surveys finished 2017 at multiyear highs. Much of this optimism appears to revolve around the economic reforms introduced by president Temer.
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