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Central Bank of Brazil raises 2021 economic growth forecast to 4.6 percent

Brasilia, June 24 (Xinhua)-The Central Bank of Brazil has raised its forecast for gross domestic product (GDP) growth from 3.6% to 4.6% this year, according to a quarterly inflation report released Thursday.

Despite the intensity of the wave of COVID-19 infections, recent indicators of economic activity have shown more positive progress than expected, according to the report.

The bank said, “Partial restoration of trust of economic agents, measures to maintain employment and income … Vaccination campaign (against COVID-19) … and delayed effects of financial stimulus measures on the economy. It shows a favorable outlook. ” ..

According to the report, the impact of the pandemic on economic activity is also weakening.

In addition, the bank said results were strong in the three basic sectors of the economy: agriculture, industry and services.

Brazil’s GDP returned to its level in the fourth quarter of 2019, before the pandemic began, rising 1.2% in the first quarter of this year compared to the last three months.

Central Bank of Brazil raises 2021 economic growth forecast to 4.6 percent

Source link Central Bank of Brazil raises 2021 economic growth forecast to 4.6 percent

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