Brasília – The Revenue and Expense Report for July/August, released this Friday (20th) by the Brazilian Ministry of Planning, Budget and Management, forecasts a 2.5% increase in the country’s Gross Domestic Product (GDP) this year. In the Report for the prior two-month period (May/June), the GDP growth forecast for this year was 3%.
The report works with the average inflation measured by the Broad Consumer Price Index (IPCA, in the Portuguese acronym) at 5.7% and considering a median exchange rate of R$ 2.09. The Revenue and Expense Report is submitted to the National Congress every two months. The document revises the revenues and expenses set forth in the Budget Act for the period at hand, providing for new cuts or allocations to discretionary expenses.
*Translated by Gabriel Pomerancblum
