Brasília – Financial market analysts polled by the Brazilian Central Bank have revised their projection of economic growth for this year yet again. The growth estimate for the Gross Domestic Product (GDP), which is the sum of all wealth produced in the country, was down for the sixth time in a row, this time from 1.64% to 1.62%. The projection for 2013 was maintained at 4%.
The figures were culled from the Focus bulletin, issued on a weekly basis by the Central Bank based on financial market estimates for the main economic indicators. The projections of decline in industrial output this year have also worsened, for the 15th week in a row. This time, the estimate of decline went from 1.78% to 1.89%. A rebound is expected next year with 4.5% growth, an estimate which has been maintained for two weeks now.
The net public debt-to-GDP ratio projection went from 35.25% to 35.37%, this year, and was maintained at 34% for 2013. The expected foreign direct investment (funds which go into the country’s productive sector) was maintained at US$ 55 billion for this year, and was revised up from US$ 58 billion to US$ 59.01 billion for 2013.
*Translated by Gabriel Pomerancblum
