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Financial News: BRAZIL: Government Cuts 2018 GDP Growth Estimate To

BRAZIL: Government Cuts 2018 GDP Growth Estimate To 2.5%, From 3.0%

05/22/2018 - 16:22:00 (RTTNews)

(RTTNews) - The Brazilian government cut its 2018 Gross Domestic Product (GDP) growth forecast to 2.5%, from around 3.0% previously, and also reduced the inflation estimate for this year from 3.64% to 3.11%, according to the most recent budget execution report.

According to the document, the year-end exchange rate forecast rose to R$ 3.37 per dollar, from R$ 3.35 in the previous report, and the 2018 primary deficit projection fell from R$ 157.4 billion to R$ 152.8 billion.

If confirmed, the number would still meet the current fiscal target, of a R$ 159 billion primary deficit.

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