Brazilian financial analysts slightly upgraded their growth forecast for 2020, from a 4.41% drop in gross domestic product (GDP) to a 4.4% drop, the Central Bank of Brazil reported.
Brazil’s central bank on Thursday raised its 2020 gross domestic product growth forecast to 2.2% in its quarterly inflation report from 1.8% previously but cautioned it was conditional on continued progress on economic reforms.
Brazil’s central bank on Thursday slashed its growth forecast for 2018 gross domestic product after a nationwide truckers strike paralyzed key sectors of Latin America’s largest economy. The bank sees GDP growth of 1.6% this year, according to its quarterly inflation report, compared to 2.6% previously.
Brazil's financial market has downgraded its 2018 economic growth forecast from 2.37% to 2.18%, according to a Focus poll released on Monday by the Central Bank. Four weeks ago, a similar survey of the country's leading financial institutions showed GDP was expected to expand 2.7%.