Brazil's government and central bank said the country's economic and f...
BRASILIA - Brazil’s government and central bank said the country’s economic and fiscal health was deteriorating rapidly, as yet another economic indicator on Tuesday suggested the country may be sliding closer toward recession.
In some regards, the comments, predictions and policy prescriptions coming out of Brasilia show officials are just catching up with the private sector, which has been far more pessimistic in recent months, particularly on growth. The new forecast would be in line with the 1.45% average forecast in the central bank’s latest weekly survey of about 100 financial institutions. That was the lowest this year, and could fall further if recent economic indicators are any guide.
Brazil’s economy expanded by 1.1% in 2018 and 2017, and official and private-sector forecasts suggest improvement will be minimal this year.
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