Brasília – The projection of financial institutions for Brazilian economic growth this year has been revised down for the third consecutive week. This time, the growth estimate for the Gross Domestic Product (GDP), i.e. the sum of all goods and services produced in the country, has dropped from 1.79% to 1.67%. The GDP growth forecast for 2015 is also down, for the second week straight, from 2.1% to 2%.
The projections are based on a weekly Central Bank poll covering the main economic indicators and were released in the Focus Bulletin this Monday (24th). The industrial output estimate has been revised from 1.93% to 1.87% this year and from 2.89% to 3% in 2015.
The projected net-to-GDP ratio has been revised from 34.8% to 34.7% for this year and remained at 35% for 2015. The trade surplus forecast has been maintained at US$ 7.9 billion in 2014. The 2015forecast has been revised from US$ 11.5 billion to US$ 10.5 billion.
The current account deficit forecast has been adjusted from US$ 74.6 billion to US$ 75 billion this year and from US$ 68 billion to US$ 67.8 billion for 2015.
The dollar exchange rate forecast has increased from R$ 2.48 to R$ 2.50, by the end of 2014, and was maintained at R$ 2.55 for 2015. The foreign direct investment forecast has been raised from US$ 58 billion to US$ 58.8 billion for 2014 and remained at US$ 57.3 billion for 2015.
*Translated by Gabriel Pomerancblum
