As Brazil braces for the impeachment voting in the special congressional committee analyzing the matter later today (this voting is to decide if the committee will recommended bringing a formal impeachment procedure voting to the floor of the lower house), the Central Bank released numbers from a weekly survey with 100 economists.
According to the survey, Brazil’s GDP is expected to shrink 3.77% in 2016, compared with expectations a week ago for a 3.73% contraction. This marked the 12th consecutive downward revision. Brazil contracted 3.8% in 2015 and economists believed the country will have a modest 0.3% growth next year.
Economists also opined that inflation will be on a slight downward path and trade surplus will be of USD 45 billion.
Source: The Wall Street Journal; 11 April, 2016