Impeachment Vote and GDP Outlook

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

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Emerging Markets Insights

a blog by Frontier Strategy Group

longandvariable

A blog on macroeconomics and public policy by Tony Yates.

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