Alexa

Brazil: Growth forecasts falling

Brazil: Growth forecasts falling

Brazil's central bank says forecasts for next year's economic growth are falling.
A weekly central bank survey of economists shows they expect Brazil's gross domestic product will grow by 3.1 percent in 2009. That is down from expected growth of 3.6 percent a month ago.
The bank says in a Monday report that fears are growing that the global financial crisis will hurt Brazil and other emerging economies more than previously thought.
Brazil's Finance Minister Guido Mantega has said the government is projecting growth next year between 4 percent and 4.5 percent.
The central bank survey indicates that forecasts for this year's growth remain on track at 5.2 percent.