MercoPress. South Atlantic News Agency
Brazil's economic outlook worsens, according to latest central bank survey
The government of president Rousseff expects inflation to end the year within its target range of 4.5%, with a 2 percent band with the top end rate at 6.5%. Analysts expect Brazil's economy to contract by 3.21% this year, with the outlook worsening from last week, the Central Bank said this week. Seven days ago analysts said they expected Brazil's economy to contract by 3.01% in 2016.
The gross domestic product (GDP) figures come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Analysts also revised their estimates for next year downward by one-tenth of a percentage point, saying they expect Brazil's GDP to expand by 0.60% in 2017, when the economy will grow for the first time in two years.
Analysts are also more pessimistic about the inflation rate for this year, with the estimate rising from 7.26% to 7.56% in just one week.
The government of president Dilma Rousseff expects inflation to end the year within its target range of 4.5%, with a 2 percent band that would put the top end rate at 6.5%.
Brazil had an inflation rate of 10.67% in 2015, the highest level in 13 years, while the economy contracted by 3.71%, according to analysts surveyed for the Boletin Focus.
If the forecasts prove to be accurate, Brazil's economy is headed for its worst economic performance since 1990, when it contracted by 4.35%. Brazil's economy grew just 0.10% in 2014. The government started using the Boletin Focus in preparing its own forecasts last year.
Top Comments
Disclaimer & comment rules-
-
-
Read all commentsHa, ha, ha!
Feb 12th, 2016 - 02:08 pm 0WHO do they think they are kidding when PB has just learnt that The Scousers are suing in concert with another group in a US court!
Just like the argies of yesteryear, they will soon find out what it means to play in the real world! Clue: it's nothing like Latam, you have to pay up, or else!
“Analysts expect Brazil's economy to contract by 3.21% this year, with the outlook worsening from last week, the Central Bank said this week. Seven days ago analysts said they expected Brazil's economy to contract by 3.01% in 2016.”
Feb 12th, 2016 - 03:19 pm 0Even the CB admits Brazil is going down the drain....BUT, look on the bright side, the BR asshole says things are wonderful, BRICS will save the planet, that Lula is the world's saviour....
I wonder who is right ?
BR asshole, pass the word on to you...
The economy may fall 100% and yet the left parties will always win every election. Because they are nationalists and honest!
Feb 12th, 2016 - 06:41 pm 0LULA 2018
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!