Economist Cut Brazil GDP Outlook for 2016, 2017

Rogerio Jelmayer- Nasdaq, 03/21/2016

Economists reduced their outlook on Brazil’s economic performance for this year and next year as the country’s economic and political crises deepens.

Brazil’s gross domestic product is expected to shrink 3.60% this year, according to a weekly central-bank survey of 100 economists, compared with expectations a week ago of a 3.54% contraction. This marked the ninth-consecutive downward revision.
For 2017, economists reduced their view of the country’s economy expansion to 0.44% from 0.50%.

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