Economists cut Brazil GDP outlook for 2016, 2017Staff writer ▼ | March 22, 2016
Economists reduced their outlook on Brazil's economic performance for this year and next year as the country's economic and political crises deepens.
LatAm GDP in Brazil to shrink 3.6%
Last year, Brazil's economy contracted 3.80%, according to the country's statistical bureau, IBGE.
For 2017, economists reduced their view of the country's economy expansion to 0.44% from 0.50%.
Meanwhile, economists reduced their estimate for the inflation rate in 2016, as measured by the consumer-price index, to 7.43% from 7.46%.
According to the central-bank survey, economists kept their outlook for the year-end Selic rate at 14.25% and for 2017 at 12.50%.
They also forecast Brazil to post a $42.40 billion trade surplus this year, up from the $41.20 billion expected in the previous week's survey. ■