Brasília – The government raised its 2019 and 2020 Brazilian economy growth forecast. Gross Domestic Product (GDP) was revised up from 0.9% to 1.12%. In 2020, GDP is expected to widen by 2.40%, from the previous 2.32% forecast. The forecasts are in the Macro Fiscal Bullet made public this Tuesday (14) by the Secretariat of Economic Policy of the Ministry of Economy.
The ministry reported that the activity indicators have presented results above the market expectations, especially in the sectors of services, commerce, and construction, which explains the upward revisions of the economic growth predictions.
Official GDP numbers in Brazil are released by another organization – the Brazilian Institute of Geography and Statistics (IBGE) – and will be made public in early March.
*With information from the ANBA Newsroom.
Translated by Guilherme Miranda