Brasília – The financial sector has reduced its forecast for inflation and increased its estimate for growth of the Brazilian Gross Domestic Product, the value of all Brazil produces. The information is part of the Focus Bulletin – the weekly Central Bank of Brazil study with agents of the finance sector.
The expected Broad Consumer Price Index (IPCA) is for inflation to hit 5.81% this year, and no longer the 5.82%, estimated previously by investors and analysts. For the GDP, the market forecasts growth of 2.48% in 2013. Previously, the estimate was for 2.47%. Industrial production should also improve, evaluates the market, which now forecasts growth of 1.80%, and no longer 1.70%.
The benchmark interest rate (Selic) estimate was maintained at 9.75% for late this year, currently at 9.5%. The real to dollar exchange rate, in the same comparison, was reduced to R$ 2.29 reals per dollar, as against the R$ 2.30 of the previous estimate. The forecast for the current account deficit, one of the main indices of foreign accounts, was maintained at US$ 79 billion, with a trade balance surplus of US$ 1.99 billion and foreign direct investment of US$ 60 billion.
*Translated by Mark Ament