Photo: Following Slower Than Expected Growth, Analysts Revise Brazil's 2013 Forecast
Financial analysts have revised their 2013 growth forecasts for Brazil downward from 3.1 percent to 3.09 percent, the Brazilian Central Bank said in its Boletin Focus on Monday.
The new forecasts were issued in the wake of the government’s announcement on Friday that the economy grew at an anemic 0.90 percent pace in 2012, the worst performance by the South American country’s gross domestic product (GDP) since 2009.
Analysts expect inflation to hit 5.7 percent this year, the Boletin Focus, a weekly survey of 100 economic experts, said.
Forecasts call for the Brazilian economy to grow 3.65 percent in 2014, with inflation remaining at 5.7 percent.