Brasília – Financial institutions’ economic growth projections are steadily declining. For the ninth time in a row, the growth estimate for the Gross Domestic Product (GDP), i.e. the sum of all goods and services produced in the country, has been revised down from 2.34% to 2.31% for this year. The estimate for 2013 is below the Central Bank’s projection, which is 2.7%.<\/p>\n
Next year, financial institutions are expecting growth to be slightly higher: 2.8%, the same as last week. The estimates are the result of a survey of the main economic indicators which the Central Bank conducts on a weekly basis.<\/p>\n
The industrial output estimate is down from 2.34% to 2.23%, this year, and remains at 3% for 2014. The dollar price estimate has been maintained at R$ 2.20, by the end of this year, and was revised up from R$ 2.22 to R$ 2.30, by the end of 2014.<\/p>\n
The benchmark interest rate (Selic) has been maintained at 9.25% per year, by the end of 2013, and was raised from 9.25% to 9.5% per year, by the end of 2014.<\/p>\n
On July 10, the Central Bank’s Monetary Policy Committee (Copom) raised the Selic rate for th third time in a row to 8.5% per year. The Selic rate was raised due to rising inflation. Whenever the Copom is aiming to curb a price hike, it raises the benchmark rate.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The estimate of financial institutions for Brazil\u2019s GDP growth in 2013 has been reduced for the ninth time in a row, this time from 2.34% to 2.31%.<\/p>\n","protected":false},"author":2315,"featured_media":0,"comment_status":"closed","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":[],"class_list":{"0":"post-45291","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"The estimate of financial institutions for Brazil\u2019s GDP growth in 2013 has been reduced for the ninth time in a row, this time from 2.34% to 2.31%.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/45291","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=45291"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/45291\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=45291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=45291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=45291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}