MercoPress, en Español

Montevideo, November 16th 2018 - 03:49 UTC

Brazil economic outlook lowered according to Central bank survey

Wednesday, November 30th 2016 - 10:14 UTC
Full article
 According to the central-bank survey, economists maintained their outlook for the year-end Selic rate at 13.75% for 2016 and at 10.75% for 2017. According to the central-bank survey, economists maintained their outlook for the year-end Selic rate at 13.75% for 2016 and at 10.75% for 2017.

Economists again lowered their outlook for Brazil's economic performance in 2016 and 2017, as the effects of a deep recession persist in Latin America's largest economy.

 Brazil's gross domestic product is expected to shrink 3.49% this year, according to a weekly central-bank survey of 100 economists, compared with expectations a week ago for a 3.40% contraction. This marked the eighth consecutive downward revision.

For 2017, economists lowered their forecast of the country's economic expansion to 0.98% from 1%, marking the sixth consecutive reduction.

Economists also cut their estimate for the inflation rate in 2016, as measured by the consumer-price index, to 6.72% from 6.80%.

According to the central-bank survey, economists maintained their outlook for the year-end Selic rate at 13.75% for 2016 and at 10.75% for 2017.

They also forecast Brazil to post a US$47 billion trade surplus this year, down from the US$47.42 billion expected in the previous week's survey.

Categories: Economy, Brazil.

Top Comments

Disclaimer & comment rules

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!