Economists see Brazil economy growing less than 1 percent in 2012

January 2, 2013

Reuters, 12/31/2012

Economists cut their estimates for economic growth in Brazil to 0.98 percent this year, a central bank survey showed on Monday, highlighting the sharp slowdown of an economy that just a couple of years ago was an emerging market star.

The world’s No. 6 economy was expected to grow 1.0 percent this year in a poll released last week, a far cry from the 3.30 percent expansion predicted by economists surveyed by the central bank at the start of the year.

Still, economists see the Brazilian economy rebounding to grow 3.30 percent in 2013 after an avalanche of stimulus measures by the government of President Dilma Rousseff that includes dozens of tax breaks and subsidized loans.

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