Brazil's GDP forecast downgraded for 4th week

Source: Xinhua | 2020-03-11

Brazilian financial analysts downgraded their economic growth forecast for the year to 1.99 percent from the previous 2.17 percent, the Central Bank of Brazil said on Monday.

The result marked a fourth consecutive week that the analysts surveyed by the bank have lowered their economic projections for 2020.

The analysts slightly raised the inflation forecast for the year to 3.2 percent from 3.19 percent, which falls within the government's target of 2.5-5.5 percent.

According to the survey, Brazil's trade balance will see a surplus of 36.4 billion U.S. dollars in 2020, and 34 billion dollars in 2021.