Brasília – Brazil’s economy should grow by 0.5% this year, as per a Gross Domestic Product (GDP) estimate issued this Tuesday (22) in Brasília by the Ministry of Finance. The last forecast had been 1%.
The estimate is in line with financial market polls, which point to 0.48% growth. In 2016, GDP shrank by 3.6%. In 2018, Brazil’s economy is expected to show 2.5% growth.
The Ministry of Finance also released updated quarter-on-quarter GDP estimates. Even though it should be up 0.5% this year, GDP could widen by 2.7% in quarter four from the year-ago period. The number is an improvement in relation to prior forecasts from Finance minister Henrique Meirelles.
*Translated by Gabriel Pomerancblum
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