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Brazilian market upgrades growth forecasts for 2019, 2020
December 24, 2019
BRASILIA, Dec. 23 (Xinhua) -- Brazil's financial market analysts remain confident of the continued economic recovery and the expansion in gross domestic product (GDP), according to a report released on Monday.
The Central Bank of Brazil's weekly survey of analysts showed they upgraded their previous growth forecast for 2019 from 1.12 percent to 1.16 percent, and from 2.25 percent to 2.28 percent for 2020.
Analysts expected a slight increase in annual accumulated inflation for 2019, from 3.86 percent to 3.98 percent, but maintained their previous projection of 3.6 percent inflation rate for 2020.
Those figures fall within the government's inflation rate target, which is 2.75 percent to 5.75 percent.
Brazil's trade balance is expected to see a surplus of 43.25 billion U.S. dollars in 2019 and a surplus of 39 billion dollars in 2020.
Foreign direct investment this year may reach 76.1 billion dollars and rise to 80 billion dollars next year, according to the analysts. ■
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