{"id":202212,"date":"2018-10-05T14:37:08","date_gmt":"2018-10-05T17:37:08","guid":{"rendered":"https:\/\/anba.com.br\/?p=202212"},"modified":"2019-06-30T12:40:07","modified_gmt":"2019-06-30T15:40:07","slug":"world-banks-brazil-gdp-forecast-shrinks","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/world-banks-brazil-gdp-forecast-shrinks\/","title":{"rendered":"World Bank\u2019s Brazil GDP forecast shrinks"},"content":{"rendered":"<p>Bras\u00edlia \u2013 The World Bank slashed its economic growth forecast for Brazil by half this year. Its Gross Domestic Product (GDP) growth forecast changed down from 2.4% to 1.2% as per the report <em>From Known Unknowns to Black Swans: How to Manage Risk in Latin America and the Caribbean<\/em>, released this Friday (5). The 2019 GDP forecast also slid, from 2.5% to 2.2%.<\/p>\n<p>The World Bank report points out that in late June, the Brazilian Central Bank\u2019s 2018 growth estimate moved from 2.6% to 1.6% in the wake of a trucker strike. \u201cThe persistence of large and seemingly intractable fiscal deficits, lack of meaningful pension reform, and growing political uncertainty regarding the October elections, in conjunction with recent apprehension in international capital markets, have brought into question even such modest growth, with the current forecast being 1.2 for 2018,\u201d the report reads.<\/p>\n<p>The revision for Brazil, which accounts for over a third of the region\u2019s GDP, also helped to bring down the estimate regarding Latin America and the Caribbean \u2013 to 0.6% in 2018 and 1.6% in 2019. The previous forecasts were 1.8% this year and 2.3% in 2019.<\/p>\n<p>Another factor weighing on regional forecasts was market instability since last April in Argentina, the continuing deterioration in Venezuela and a turn for the worse in the international scenario. Weren\u2019t it for Venezuela, the region\u2019s GDP would go up 1.6% this year and 2.1% in 2019. According to the World Bank, \u201cVenezuela continues to implode with an economic, financial, and social crisis unprecedented in the modern history of the region.\u201d<\/p>\n<p>South America\u2019s economy is expected to shrink by 0.1% in 2018 and grow by 1.2% in 2019. With Venezuela out of the picture, growth would be 1.2% in 2018 and 1.9% in 2019. The World Bank names external factors that remain relatively favorable to the region, like growth in the USA, strong growth in China and a recovery in commodity prices.<\/p>\n<p><strong>Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-202191\">Jaelson Lucas\/SMCS<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The institution slashed its forecast for the Brazilian economy in 2018 from 2.4% by half, to 1.2%.<\/p>\n","protected":false},"author":2315,"featured_media":202191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[42435],"class_list":{"0":"post-202212","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-america-latina-en"},"wps_subtitle":"The institution slashed its forecast for the Brazilian economy in 2018 from 2.4% by half, to 1.2%. ","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/202212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=202212"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/202212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/202191"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=202212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=202212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=202212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}