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Latino Daily News

Monday August 19, 2013

BRAZIL: Analysts Stick to Early Prediction for Country’s Growth, 2.21%

BRAZIL: Analysts Stick to Early Prediction for Country’s Growth, 2.21%

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Financial analysts are keeping their 2013 growth forecasts for the Brazilian economy at 2.21 percent, the same level as last week, the Central Bank said Monday.

The gross domestic product forecast for 2014 remains at 2.5 percent, the Central Bank said in its Boletin Focus, a weekly survey of analysts from about 100 private financial institutions on the state of the national economy.

Private forecasters see GDP growing at a slower pace than the government, which has cut its estimates but still expects the economy to expand at a 3 percent rate in 2013.

Analysts expect inflation to end the year at 5.74 percent and to hit 5.85 percent in 2014, down from the previous estimate of 5.8 percent.

Interest rates, according to the analysts surveyed for the Boletin Focus, will be at 9.5 percent by the end of this year, up from the current 8.5 percent level.