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Brazil to grow 1.91% this year

Staff writer |
Brazil's economy is expected to grow 1.91% this year. The forecast is part of a weekly consultation made by the Brazilian Central Bank (BC) with various financial institutions.

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Last week, the forecast had been announced at 2%. For 2015, the expected growth in the Gross Domestic Product (GDP), sum of all goods and services produced in the country, dropped from 2.50% to 2.20%. The International Monetary Fund (FMI), however, forecasts an increase by 2.3% in the Brazilian GDP this year, and by 2.8% in 2015, according to the latest World Economic Outlook update, released last week.

The industrial production estimates were maintained at 2.2% this year and adjusted from 2.89% to 2.95% for 2015. Financial institutions' forecasts for the public debt and GDP ratio continues at 34.8% in 2014, and 35% in 2015.

According to the Brazilian Central Bank, the expected trade balance surplus dropped from $ 9.1 billion to $ 8 billion this year. For 2015, forecasts remain at US$ 12 billion.

On the other hand, the current transactions deficit (register of buying and selling transactions of goods and services between Brazil and abroad), was adjusted to from US$ 72.15 billion to $73 billion in 2014, and from $70.6 billion to $71.45 billion in 2015.

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