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EU announces lower projected growth for Brazil in 2013 and 2014

Criado em 06/11/13 09h12 e atualizado em 06/11/13 09h15
Por Wellton Máximo Fonte:Agência Brasil

Brasília – The European Union (EU) estimate for Brazil's economic growth this year has decreased from 3% to 2.2%. The new forecast is in the Autumn 2013 edition of the European Commission's European Economic Forecast report released Tuesday (Nov. 5). The projected growth for 2014 also dropped from 3.6% to 2.5%.

The European Union estimate is lower than those announced by the Brazilian government and by the market. This year, both the Central Bank's Inflation Report and the Ministry of Planning anticipate Brazil's Gross Domestic Product (GDP) (the sum of all goods and services produced in the country) to grow 2.5%.

The weekly Focus Report released by Brazil's Central Bank (BC) shows that even the financial institutions expect that the GDP will grow 2.5% this year.

The EU forecast was also lower than that of other international organizations. In late October, the Organisation for Economic Co-operation and Development (OECD) estimate for Brazil's growth in 2013 decreased from 2.9% to 2.5%. For 2014, the forecast shrank from 3.5% to 2.2%.

Edited by Nádia Franco/Lícia Marques
Translated by Mayra Borges

Creative Commons - CC BY 3.0

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