Brazil may grow 2.5 percent in 2018: finance minister

September 2, 2016 2:12 PM EDT

Men display their products in an open-air market in Rio de Janeiro, Brazil, May 6, 2016. REUTERS/Ricardo Moraes


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(Reuters) - Brazil's economy could grow 2.5 percent in 2018 and expand at an even faster rate over the following years, Finance Minister Henrique Meirelles said on Friday at a seminar in Shanghai.

There are $269 billion in investment opportunities mapped out in Brazil for the next four years, Meirelles added, which would help the economy recover from the severe recession is has been going through since 2014.

"The historical trend is for Brazil to have substantially faster growth rates and we will work to have growth back to an average of 4 percent," Meirelles said.

He attended the seminar along with President Michel Temer ahead of a G20 summit in China.

The investment opportunities in Brazil include concessions of public services and the privatization of state companies, Meirelles said, adding that some of the projects will be detailed later this month by the government.

The Senate dismissed President Dilma Rousseff on Wednesday, clearing the way for Temer, interim president since May, to push fiscal reforms and privatizations. But Temer's business-friendly agenda faces an uphill battle, his economic advisers and senior lawmakers told Reuters.

(Reporting by Marcela Ayres; Writing by Silvio Cascione; Editing by David Gregorio)



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