Financial market lowers GDP growth forecast for the 12th consecutive week.
According to the financial market, the estimate for the GDP decline has increased from 3,34% to 3,76%.
Kelly Oliveira, Agência Brasil - The forecast for the economic downturn this year has been revised again by the financial market. For the 12th consecutive week, financial institutions have revised their projection for the decline in Gross Domestic Product (GDP), the sum of goods and services produced in the country. This time, the estimated drop went from 3,34% to 3,76%.
The information is contained in the Focus bulletin, which includes projections from financial institutions for the main economic indicators, published on Mondays by the Central Bank (BC) in Brasília.
The financial market forecast for GDP growth in 2021 is 3,20%. The previous forecast was 3%. For 2022 and 2023, the growth estimate remains at 2,50%.
Dollar
The forecast for the dollar exchange rate is R$ 5 at the end of 2020. Last week, the estimate was R$ 4,80. And for the end of next year, the expectation is R$ 4,75, compared to R$ 4,55 in the previous forecast.