Brazil’s economy to grow by 3% in 2019

The estimate was released in the draft budget made public by the ministries of Planning and Finance.

Gabriel Kawamura Pomerancblum

Brasília – Brazil’s economy is poised to see 3% growth in 2019. The estimate is from the draft budget bill for next year, made public this Thursday (12) by the ministers of Planning, Esteves Colnago, and Finance, Eduardo Guardia.

The bill includes a 4.2% inflation forecast. Both Gross Domestic Product (GDP) and inflation are important when it comes to revenue and spending projections for next year’s budget.

The government’s GDP estimates are in line with those from market players. According to Focus Bulletin, which is based on a weekly Central Bank poll of financial institutions, GDP should be up 3% in 2019, and the Extended Consumer Price Index (IPCA) is expected to be 4.09% at the end of the year. Four weeks ago, the Focus Bulletin inflation forecast was the same as the government’s – 4.2%.

Translated by Gabriel Pomerancblum

Luiz Souza/NurPhoto/AFP

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