Brasília – The Brazilian Central Bank kept its 2019 economic growth forecast unchanged. Gross Domestic Product (GDP) is expected to widen by 2.4%, as per the Quarterly Inflation Report released this Thursday (20).
The Central Bank’s projection is in line with expectations of a continuation of the gradual resumption of economic activity in coming quarters. “As shown in the September Inflation Report, this forecast hinges on the continuation of necessary economic reforms and adjustments in Brazil, notably fiscal ones,” the monetary authority asserted.
Agriculture and industry growth forecasts for 2019 remained at 2% and 2.9%. The projection regarding retail and services moved up marginally from 2% to 2.1%.
Expected GDP growth in 2018 moved down from 1.4% to 1.3%. The revision reflects Q3 GDP results, the revision of past GDP results, and Q4 industry statistics.
Translated by Gabriel Pomerancblum