Brazil's financial market forecasts 5.31 pct drop in GDP in 2020


  • World
  • Wednesday, 09 Sep 2020

BRASILIA, Sept. 8 (Xinhua) -- Brazil's financial market raised its forecast of a drop in gross domestic product (GDP) in 2020 from 5.28 percent to 5.31 percent, marking the first setback in the forecast after eight consecutive weeks of improving expectations, the Central Bank of Brazil said on Tuesday.

According to the bank's weekly survey of analysts at leading financial institutions in the South American country, the economic growth forecast for 2021 remained unchanged at 3.5 percent.

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