SAO PAULO, Aug 29 (Reuters) - Brazil’s presidential candidate Aecio Neves on Friday said the economic model of President Dilma Rousseff failed as the economy entered a recession in the first half of the year.
“Today is a sad day for Brazil as it just entered a technical recession,” Neves told reporters. “The truth is that this government failed, and it failed principally in its steering of Brazil’s economy. That’s why the feeling among the majority of Brazilians is a desire for change.”
Brazil’s economy shrank 0.6 percent in the second quarter from the previous period, according to government statistics agency IBGE. The agency also revised down its estimate for first quarter activity to a 0.2 percent contraction, meaning the economy entered a recession, a major blow to Rousseff’s already diminishing hopes for reelection in October.
Reporting by Pedro Belo, writing by Walter Brandimarte; Editing by Chizu Nomiyama