Brazilian Govt Downgrades 2021 Growth Forecast to 5.1%

1 from 5.3 per cent, while raising its inflation forecast to 9.

7 from 7.9 per cent.Rio De Janeiro : November 18th, 2012 - The Brazilian government has lowered its economic growth forecast from 5.3 to 5.1 percent to this year, and raised its inflation forecast from 7.9 to 9.7 to 9.7 per centThe Secretariat of Economic Policy at the Ministry of Economy said in a report that the lower gross domestic product (GDP) growth forecast and the inflation hike were the result of a worsening international situation, due in part to the energy crisis affecting some European countries and the breakdown of production chains that are affecting demand and production.In a report, the Secretariat of Economic Policy of the Ministry of Economy stated that both the low gross domestic product growth (GDP) forecast and inflation rise were due to a worsening international environment.

This was partly caused by the European energy crisis and breakdown of production chain that affects demand and production.For 2022, the government also lowered economic growth projections from 2.5 to 2.1 per cent, while estimated inflation went from 3.75 to 4.7 per cent, Xinhua news agency reported.The government also lowered its economic growth projections for 2022 from 2.5 to 2.1 percent, and estimated inflation rose from 3.75 to 4.7 percent, according to Xinhua news agency "The strength of the labor market recovery is sufficient to guarantee growth above 2 per cent (for both 2021 and 2022)," the Brazilian government said on Wednesday.The Brazilian government stated Wednesday that the strength of the labor markets recovery was sufficient to ensure growth over 2% (for 2021 as well 2022), according to the Brazilian government "With the recovery of informal employment, we expect the participation rate and the level of employment to return to historical levels and help the country grow at the projected rate," it added.

It stated that "With the recovery in informal employment, we expect both the participation rate as well as the level of unemployment to return to historic levels" and would help to propel the countrys growth at its projected rate.According to financial market projections, Brazils GDP will grow 4.88 per cent in 2021 and 0.93 per cent in 2022, while inflation rate will be 9.77 per cent in 2021 and 4.79 per cent in 2022.Financial market projections predict that Brazils GDP growth will reach 4.88 percent in 2021, 0.93 Percent in 2022 and 9.77% in 2022.The inflation rate for Brazil will rise to 9.77 percent in 2021, and 4.79 percent in 2022.int/khz/ #Brazilian #Downgrades #Forecast.