Brasília – Financial market analysts polled by the Brazilian Central Bank have revised the country’s economic growth projection for the fifth consecutive week this year. The Gross Domestic Product (GDP) estimate, which concerns all wealth produced in the country, was revised upward from 1.3% to 1.64%. The projection for 2013 was maintained at 4%.
The figures were culled from the Focus bulletin, which the Central Bank issues on a weekly basis, covering financial market estimates for the main economic indicators. The projections of a decline in industrial production this year have been worsening for 14 weeks now. This time, the decline estimate has gone from 1.55% to 1.78%. Next year, a recovery is expected with a 4.5% growth rate.
The net public debt-to-GDP ratio for this year has been maintained at 35.25% this year and 34% in 2013.
The dollar-to-real exchange rate by the end of the year remains at US$ 1 for R$ 2, both in 2012 and 2013. The trade surplus forecast (positive result for exports minus imports) has gone from US$ 18 billion to US$ 18.04 billion this year, and was maintained at US$ 15 billion in 2013.
As for the current transaction deficit (purchases and sales of goods and services between Brazil and other countries), the estimate has been revised from US$ 58.71 billion to US$ 58.8 billion, this year, and was maintained at US$ 70 billion in 2013.
The expected foreign direct investment (funds invested in the country’s productive sector) has been maintained at US$ 55 billion, this year, and was revised from US$ 59 billion to US$ 59.01 billion in 2013.
*Translated by Gabriel Pomerancblum
