Brazilian economy expands 1 pct in 2017

Official figures indicate that Brazilian gross domestic product grew by 1 percent last year, having shrunk in the preceding two years, the Associated Press reports.

The news agency, citing data compiled by the Brazilian statistics agency, says the expansion was due in large part to growth of 13 percent in agriculture.

In another report, the Reuters news agency says Brazilian GDP was 0.1 percent bigger in the fourth quarter of last year than in the third, growing more slowly than forecast.

The report says Brazilian Finance Minister Henrique Meirelles told a news conference: “Brazil is not in recession anymore. That’s what is important.”

GDP is on course to expand by 3 percent this year, Reuters quotes Mr Meirelles as saying.