{"id":252049,"date":"2019-07-12T17:33:54","date_gmt":"2019-07-12T20:33:54","guid":{"rendered":"https:\/\/anba.com.br\/?p=252049"},"modified":"2019-07-12T17:52:01","modified_gmt":"2019-07-12T20:52:01","slug":"gdp-forecast-from-govt-revised-down","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/gdp-forecast-from-govt-revised-down\/","title":{"rendered":"Gov\u2019t revises down its GDP forecast"},"content":{"rendered":"<p>Bras\u00edlia \u2013 The <a href=\"http:\/\/www.economia.gov.br\/\" target=\"_blank\" rel=\"noopener noreferrer\">Brazilian Ministry of Economy<\/a> released its Macro Fiscal bulletin this Friday (12). Inflation is expected to keep sliding before ending the year at 3.8%, in line with the government\u2019s target and down from the prior 4.1% forecast. Gross Domestic Product (GDP) is seen going up 0.8%, down from the previous 1.6% projection. In 2020, GDP is expected to widen by 2.2%.<\/p>\n<p>The new forecast matches the <a href=\"https:\/\/anba.com.br\/en\/bc-revises-down-brazilian-gdp-forecast\/\" target=\"_blank\" rel=\"noopener noreferrer\">latest one issued by the Central Bank<\/a> and falls slightly short of the <a href=\"https:\/\/anba.com.br\/en\/gdp-forecast-from-banks-worsens-2\/\" target=\"_blank\" rel=\"noopener noreferrer\">0.82% prediction based on a poll of financial institutions<\/a> and made public in the Focus Bulletin last Monday (8).<\/p>\n<p>The Macro Fiscal bulletin shows that economic recovery remained sluggish throughout Q2 2019. The passing of the social security reform is mentioned as crucial to the resumption of economic growth.<\/p>\n<p>Special secretary for Finance Waldery Rodrigues believes new retirement rules, coupled with a Tax Reform, can spur GDP growth in years to come. \u201cThese two [reforms] comprise measures which impact what we call the potential GDP of Brazil\u2019s economy,\u201d he said.<\/p>\n<p>The Ministry of Economy\u2019s undersecretary for Economic Policy Adolfo Sachsida said the challenges to economic growth include boosting productivity. \u201cEither Brazil embraces pro-market reforms that will stimulate production and employment or weak economic growth will persist.\u201d<\/p>\n<p><strong>*With information from the ANBA Newsroom. Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-252046\">Lucio Tavora\/AFP<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The 2019 economic growth forecast from Brazil\u2019s Ministry of Economy narrowed from 1.6% to 0.8%.<\/p>\n","protected":false},"author":2315,"featured_media":252046,"comment_status":"open","ping_status":"closed","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":[1803,9888,43432,2566,9756,9889,9887,6728],"class_list":{"0":"post-252049","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-central-bank","9":"tag-finance-en","10":"tag-focus-en-2","11":"tag-focus-bulletin","12":"tag-gdp-en","13":"tag-ibge-en","14":"tag-macro-fiscal-bulletin","15":"tag-ministry-of-economy"},"wps_subtitle":"The 2019 economic growth forecast from Brazil\u2019s Ministry of Economy narrowed from 1.6% to 0.8%.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/252049","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=252049"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/252049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/252046"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=252049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=252049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=252049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}