Brazil's financial analysts upgrade 2019 growth forecast to 0.82 pct

Source: Xinhua| 2019-07-23 12:36:28|Editor: Liangyu
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BRASILIA, July 22 (Xinhua) -- Brazilian financial analysts upgraded the country's economic growth forecast for 2019 from 0.81 percent to 0.82 percent, the Central Bank of Brazil said on Monday.

The bank's latest Focus survey of the country's leading financial groups showed the first positive assessment of economic growth following 20 weeks of consecutive downgrades.

At the start of the year, the gross domestic product (GDP) was expected to expand by 2.5 percent in 2019, but the growth forecast gradually dipped as the economy lagged.

However, analysts surveyed by the central bank maintained their projections for growth in 2020 at 2.1 percent.

The inflation forecast for this year was adjusted from 3.82 percent to 3.78 percent. For 2020, the rate remained at 3.9 percent.

Projected inflation falls within the official target of 4.25 percent, with a margin of tolerance between 2.75 percent to 5.75 percent.

Brazil's trade surplus was expected to reach 51 billion U.S. dollars in 2019, and 46.5 billion dollars in 2020.

Foreign direct investment was estimated to amount to 85 billion dollars this year, and 84.2 billion dollars next year.