Brasília – Financial analysts have revised up Brazil’s economic growth projection for this year. According to a survey conducted by the Central Bank, the Gross Domestic Product (GDP) growth estimate has gone from 2.20% to 2.32%. The projection for 2014 was revised down from 2.40% to 2.30%.
Last Friday (30th), the Brazilian Geography and Statistics institute (IBGE) reported that Brazil’s economy was up 1.5% in the current quarter from the preceding one. In quarter one, the GDP was up 0.6% from quarter four, 2012. Banks’ estimates of growth in industrial output was maintained at 2.11% this year and revised up from 2.90% to 3% in 2014.
The forecast of financial analysts concerning the current account deficit (imports of goods and services exceeding exports) has been maintained at US$ 77 billion this year and raised from US$ 78.55 billion to US$ 78.90 billion in 2014. The forecast for foreign direct investment (funds invested in the productive sector) has been maintained at US$ 60 billion for both 2013 and 2014.
*Translated by Gabriel Pomerancblum
