Brasília – The Brazilian Central Bank changed up its current account deficit forecast for this year. It sees Brazil’s current account – sales and purchases of goods and income transfers to and from other countries – running a USD 14.3 billion deficit in 2018, a sum tantamount to 0.8% of Gross Domestic Product (GDP).
As of last June, the monetary authority was expecting a USD 11.5 billion deficit, equivalent to 0.6% of GDP. The revision came as a result of an expected hike in imports. The trade surplus forecast changed down to USD 55.3 billion, from USD 61 billion in June.
Translated by Gabriel Pomerancblum
