Brazil’s Economic Growth Forecast Falls For the Eighth Consecutive Time

Despite the more pessimistic forecasts, many economists still believe that the window of opportunity remains ‘wide open’.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Financial institutions in Brazil reduced on Monday the country’s economic growth forecast for the eighth consecutive time this year, showed the Central Bank’s weekly Focus Survey. The estimate for this year’s GDP dropped from 1.95 percent to 1.71 percent.

According to economists, however, if at the beginning of the Bolsonaro Administration the market was over-optimistic, now it is over-pessimistic.

“The market erred, during the euphoria just after the elections, by overestimating the performance of the economy,” wrote economist and former CADE (Brazil’s . . .

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