RIO DE JANEIRO, BRAZIL - Latin America’s largest economy will expand 1.24 percent this year, according to the median forecast from economists surveyed by the Central Bank, down from their 1.45 percent call last week and half of what they expected three months ago.
It is the twelfth straight week in which they reduced their estimates. Brazil grew at 1.1 percent in both 2017 and 2018.
Analysts brimmed with optimism after Jair Bolsonaro’s election last year, expecting measures to liberalize the economy and a surge in investment that would boost growth.
Instead, there . . .