Brasília – The Central Bank of Brazil (BC) slightly increased the forecast for Brazilian economic growth this year and predicts, still with a “high level of uncertainty,” a better growth rate in 2020. Projection for the Gross Domestic Product (GDP) growth moved from 0.8% to 0.9% in 2019, reads the Inflation Report released this Wednesday (26) in Brasília.
“For 2020 GDP, still with a high level of uncertainty, it’s projected a 1.8% growth. We emphasize that this depends on the continuity of necessary reforms and adjustments in Brazilian economy and supposes that the underlying economic growth pace , excluding the effects of temporary stimuli, will be gradual,” the quarterly report read.
Agribusiness growth forecast went up from 1.1% to 1.8%. The projection for the industry performance showed a slight reduction from 0.2% to 0.1%, with an estimated decrease for the extractive industries and an increase or stability for the other industries.
Translated by Guilherme Miranda
