Brasília – Financial market analysts are projecting increasingly lower rates of growth for the Brazilian economy. For the seventh week in a row, the projected increase in the Gross Domestic Product (GDP), the sum of all wealth produced in the country, has been revised downwards, this time from 1.62% to 1.57%.
The projection for 2013 has been maintained at 4%. The figures were released on the weekly Focus bulletin, issued by the Central Bank based on financial market estimates for the main economic indicators.
The projection of decline in industrial production this year has also been worsening for 16 consecutive weeks this year. This time, the estimate of decline went from 1.89% to 1.92%. Next year, a recovery is expected with a 4.25% increase, which is less than the previous estimate (4.5%).
The net public debt-to-GDP ratio projection was revised from 35.37% to 35.5%, this year and kept at 34% in 2013. The trade surplus forecast was kept at US$ 18 billion for this year and revised down from US$ 14.57 billion to US$ 14.4 billion in 2013.
*Translated by Gabriel Pomerancblum
