By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – Forecasts by financial analysts for Brazil’s Gross Domestic Product (GDP) growth rate in 2015 continue to deteriorated, from a contraction of 2.85 percent to 2.97 percent last week, according to the latest Focus Survey, released by the Central Bank. This is the thirteenth consecutive time the GDP growth rate has declined. For 2016 the growth rate forecast went from a contraction of one percent to a contraction of 1.2 percent.
The weekly survey conducted with a hundred bank analysts also shows that the country’s