Brasília – The Brazilian Central Bank is expecting greater economic growth this year. According to the Quarterly Inflation Report, disclosed today (29th) by the organisation, the projection of increase for the Gross Domestic Product (GDP), which is the sum of all goods and services produced in the country, has risen to 5%. The rate is 0.2% higher than estimated in June.
The projection is made based on a reference scenario assuming that the basic interest rate (Selic) is going to remain at 13.75% throughout the year and that the exchange rate for the dollar will remain at 1.80 real (US$ 0.97). "The upward revision of the estimate reflects an overall improvement of projections for both production and demand," the document states. According to the report, GDP growth should continue, even in the face of reduciton in the level of economic activity worldwide.
*Translated by Gabriel Pomerancblum
