Brasília – Brazilian financial market analysts and investors have lowered their economic growth estimate yet again, and raised their 2013 inflation growth projection. According to the Central Bank’s Focus bulletin, which points out the market’s expectations, the Gross Domestic Product (GDP) growth projection has dropped from 3.2% to 3.19%. On the other hand, the inflation forecast measured by the Broad Consumer Price Index (IPCA) has been raised from 5.53% to 5.65% this year. The survey was released this Monday (21st).
The late-2013 exchange rate is expected to be at R$ 2.08 for US$ 1, and the late-2013 benchmark interest rate is expected to remain at the current level of 7.25% per year. Administered prices are expected to be up 3.2% this year.
The current account deficit estimate, one of the main indicators of external accounts, has improved and is down from US$ 63.05 billion to US$ 63 billion; the trade surplus is estimated to be US$ 15.43 billion in 2013, and foreign direct investment is estimated at US$ 60 billion.
*Translated by Gabriel Pomerancblum
