São Paulo – Financial market has lowered the Brazilian economy growth forecast for 2014. According to Focus Bulletin disclosed this Monday (9th) by the Brazilian Central Bank, Brazil’s Gross Domestic Product (GDP) should grow 1.44% this year. The bulletin is the outcome of a survey the financial organization conducts with financial market investors and analysts and is released weekly. Last Monday (2nd), the forecast for Brazilian GDP’s growth for 2014 was 1.5%.
This Monday’s survey’s estimate for industrial output is an increase of 0.96% this year. Last week, the forecast was that this sector would grow by 1.24%. The market has kept the forecast for inflation rate of 6.47%. The top end of the inflation target is 6.5%, and the median target is 4.5%. Also unchanged is the estimate for dollar price, which, according to the survey, will close the year at R$ 2.33. The interest rate should remain at 11%.
Focus bulletin showed the country should receive US$ 60 billion in Foreign Direct Investments and it will have current account deficit of US$ 80 billion, according to the forecast of the financial market analysts.
*Translated by Rodrigo Mendonça
