Brazil’s Financial Market Projects 4.81 Percent GDP Drop in 2020

In an annual report on the Latin America's largest economy dated October 5th, the International Monetary Fund (IMF) revised upwards its forecast of 9.1 percent contraction to 5.8 percent decrease this year.

SÃO PAULO, BRAZIL - Brazilian financial analysts upgraded slightly their economic growth forecast for 2020, from a five percent drop in gross domestic product (GDP) to a 4.81 percent drop, the Central Bank of Brazil said on Monday, October 27th.

They also downgraded their growth projection for 2021, from a 3.47 percent rise in the GDP to 3.42 percent.

According to the bank's weekly survey of leading financial institutions in Brazil, analysts raised their inflation forecast for the end of the year, from 2.65 percent to 2.99 percent, and modified next year's inflation . . .

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