Brazil’s 2020 Projected GDP Growth Tumbles, per Goldman Sachs

Brazil’s government is expected to lower its official 2.4 percent growth forecast for this year.

RIO DE JANEIRO, BRAZIL - (Reuters) Brazilian economic growth and interest rate forecasts for this year took a tumble on Tuesday as the U.S. Federal Reserve’s emergency rate cut highlighted the economic damage Latin America’s largest economy is likely to suffer this year.

Goldman Sachs economists slashed their 2020 economic growth forecast to 1.5 percent, well below the politically sensitive 2 percent threshold, and Asa Bank’s Carlos Kawall said the central bank could eventually cut its benchmark Selic rate to 3 percent.

Monica de Bolle at the Peterson Institute for International Economics in Washington said Brazil . . .

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