Brasília – Financial market analysts polled by the Brazilian Central Bank have lowered their forecast of economic growth in 2011 and 2012. The Gross Domestic Product (GDP), which is the sum of all wealth produced in the country, has had its 2012 growth estimate revised downward from 3.4% to 3.3%. The projection for last year has been revised downward for the sixth consecutive week, from 2.9% to 2.87%. The Brazilian Institute of Geography and Statistics (IBGE) will disclose the 2011 GDP result in March.
The projections were culled from the Central Bank’s weekly Focus Bulletin. The survey also includes estimates for other economic indicators, such as industrial output, which is projected to grow by 3.43% this year. The net public debt-to-GDP ratio growth estimate has gone from 37.5% to 37.35%.
By the end of 2012, one dollar is expected to be worth 1.75 real. The forecast for the 2012 trade surplus (positive result for exports minus imports) has been lowered from US$ 18.28 billion to US$ 17.9 billion.
The estimate for the current account deficit (goods and services purchase and sale transactions between Brazil and other countries) has been revised downward from US$ 68.3 billion to US$ 68 billion, this year.
The expected foreign direct investment has been revised from US$ 60.2 billion to US$ 63 billion, in 2011, and maintained at US$ 55 billion, in 2012.
*Translated by Gabriel Pomerancblum
