São Paulo – Brazil’s Gross Domestic Product (GDP) should decline 2.99% this year, according to the Focus Bulletin released this Monday (11th) by Brazilian Central Bank. The report is the result of a survey that the monetary authority does with financial institutions weekly. Last week, these institutions estimated that the GDP would decline 2.95%. Forecasts released by the Focus Bulletin indicate that the country will resume growth only in 2017, with a 0.86% increase of the GDP.
The same report indicates that the inflation rate should reach 6.93% in 2016. Last week, financial institutions estimated that prices would go up 6.87%. The Selic, the benchmark interest rates, should reach 15.25%, with the dollar going to BRL 4.25.
*Translated by Sérgio Kakitani
