BRASILIA, June 21 (Xinhua) -- Brazil's financial market upgraded its economic growth forecast for 2021 from 4.85 to 5 percent, the Central Bank of Brazil said on Monday.
According to the bank's weekly survey of the country's leading financial institutions, analysts adjusted their growth projections for 2022 from 2.2 to 2.1 percent expansion in Gross Domestic Product (GDP).
If this year's estimate is confirmed, it would easily reverse the downturn in Latin America's largest economy last year, when GDP fell 4.1 percent.
Regarding inflation, analysts modified their projection from 5.82 to 5.9 percent for 2021 and maintained it at 3.78 percent for 2022.
The projection for 2021 by far exceeds the government's target inflation rate of 3.75 percent, with a margin of tolerance of 1.5 percentage points, which places the inflation ceiling at 5.25 percent.
Foreign direct investment in Brazil is estimated to reach 58.15 billion U.S. dollars in 2021 and 66.99 billion U.S. dollars in 2022. Enditem
