Brazil sees economy surge by 9%

Brazil's economy reportedly grew at its fastest rate in at least 14 years, during the first three months of this year.



Official figures are said to have shown that the country’s gross domestic product surged by 9 per cent compared with the corresponding period a year earlier.



However, higher interest rates and the withdrawal of some tax breaks are expected to cool growth eventually.



Brazil's economy is the largest in Latin America and the eighth biggest in the world.