Brazilian Market Slightly Upgrades 2019 Growth Forecast

According to the bank's weekly poll of analysts at leading financial institutions, the adjustment reflects market optimism of an upturn in Brazil's economy.

BRASILIA, Dec. 16 (Xinhua) -- Brazil's financial market slightly upgraded the country's growth forecast for 2019 from 1.1 percent to 1.12 percent, the Central Bank of Brazil said Monday.

According to the bank's weekly poll of analysts at leading financial institutions, the adjustment reflects market optimism of an upturn in Brazil's economy.

Four weeks ago, analysts projected gross domestic product (GDP) would expand just 0.92 percent.

Analysts also upgraded their growth projections for 2020, from 2.24 percent to 2.25 percent. A month ago, that figure was at 2.17 percent.

The survey shows analysts also expect inflation to rise somewhat, from 3.84 percent to 3.86 percent at the close of the year, but decrease again in 2020 to 3.6 percent.

Brazil's trade balance is estimated to leave a surplus of 43 billion U.S. dollars in 2019 and of 38.45 billion U.S. dollars in 2020.