BRAZIL: Government Cuts 2018 GDP Growth Projection To 1.6%, From 2.5%
The Brazilian government revised the expectation of growth of the Gross Domestic Product (GDP) downward in 2018. The growth forecast fell to 1.6%, from 2.5%. The estimate was disclosed in the third-quarter earnings and expenses evaluation report.
The expectation for inflation was revised upwards, from 3.40% to 4.20%, as well as the exchange rate, which was revised from R$ 3.40 to R$ 3.60.