Forecasts for Brazil: 2.5% Growth, 5% Inflation, Dollar at 2.25 Reais

Brazzil Magazine covers

Americanas, Brazilian store The Brazilian financial market, in its first survey this year, confirmed most of the forecasts made last week concerning the Brazilian economy. The Focus bulletin, released every Monday by the Central Bank of Brazil, has maintained the inflation rate expected for 2009 at 5%, measured according to the Broad Consumer Price Index (IPCA).

The Consumer Price Index (IPC), however, which is measured by the Economic Research Institute Foundation (Fipe), should decrease to 4.72% this year, as against the 4.77% forecast that had been estimated over the last four weeks.

The dollar should remain equivalent to 2.25 reais (Brazilian currency) in 2009 and the benchmark interest rate (Selic) should end the year at 12%, according to analysts at the country's leading financial institutions, surveyed by the Central Bank.

The economy should grow 2.4% this year, as against a forecast of 2.44% made last Monday. Industrial production should rise 2.7% this year, as against 2.9% forecasted a week ago.

Foreign investment in the country this year should rise from US$ 21.5 billion, forecasted last week, to US$ 23 billion. With regard to the balance of trade, according to analysts, exports should grow by US$ 23 billion in 2009, as against a forecasted increase of US$ 21.5 billion, as estimated last week.

ABr

Tags:

You May Also Like

Brazzil Magazine covers

Brazil’s Lula Vows Not to Kill Himself or Take Any Extreme Action

In a speech to Brazil’s Economic and Social Development Council, on Thursday, August 25, ...

Brazzil Magazine covers

Brazil Debuts 17-Million-Strong National Directory of Businesses

The Brazilian Ministry of Development, Industry and Foreign Trade in order to cater to ...

Brazzil Magazine covers

World Bank Chastises Brazil for Growing Slow and Neglecting Infrastructure

The chief economist at the World Bank, François Bourguinon, says that "Brazil needs macroeconomic ...

Brazzil Magazine covers

Banned in Brazil Paris Hilton’s Beer Commercial Becomes YouTube Hit

After paying a fee of about US$ 800,000 to socialite Paris Hilton for her ...

Brazzil Magazine covers

Brazil Creates Center to Improve Leather and Cut Waste

Brazil is investing in technology to improve the quality of the leather produced in ...

Brazzil Magazine covers

President Lula Will Check Brazil’s Research on Antarctic Base

The president of Brazil, Luiz Inácio Lula da Silva, is expected this Friday, February ...