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Brazil GDP to see 2.22 pct growth in 2020

Last Updated: 2019-12-03 10:54 | Xinhua
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Brazilian financial market analysts upgraded their 2020 economic growth forecast to 2.22 percent for the fourth week in a row, the Central Bank of Brazil said Monday.

Next year the country's gross domestic product (GDP) will see the biggest expansion since 2013, when it grew by 3 percent, according to the bank's weekly survey of some 100 economists.

Last week's survey projected the 2020 economic growth of 2.2 percent.

For 2019, the analysts maintained their previous forecast of 0.99 percent.

Both the bank and the Brazilian government estimate a growth of 0.9 percent for the current year.

The analysts also increased their 2019 inflation forecast for the fourth week in a row, from 3.46 percent to 3.52 percent, which falls within the bank's target range of between 2.75 and 5.75 percent.

Brazil's trade balance is estimated to leave a surplus of 43.5 billion U.S. dollars in 2019, slightly less than the 44.6 billion dollars forecast last week, and 40 billion dollars in 2020.

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