Central Bank of Brazil President Ilan Goldfajn thinks the Brazilian economy is on course toward slight growth next year, Reuters reports.

The news agency quotes Mr Goldfajn as saying the economy could grow by 2 percent next year if it keeps expanding at its current pace.

“What we are seeing is a gradual recovery,” he said, adding that shrinking inflation did not endanger the economy.

The report says Brazilian annual gross domestic product shrank by more than 3 percent in each of the past two years. The recession is Brazil’s longest.

The consensus is for a growth rate of 0.3 percent for this year, Reuters says.