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17 Oct 2019, Radoslav Yordanov, EMIS Editor

IMF raises 2019 GDP growth forecast for Brazil

The International Monetary Fund (IMF) raised its 2019 GDP growth forecast for Brazil by 0.1% to 0.9%, CEEMarketWatch reported. It also slashed its projection for inflation by 0.5% to 3.6% for this year.

The fund said that the approval of the pension reform is indispensable to sustain country’s public debt. The reform was already approved in the Congress, but it still needs a second vote in the Senate. The IMF underlined that the government should implement as well trade opening measures and infrastructure investment to boost the local economy. 

On the other hand, the fund cut its GDP projection for 2020 by 0.4% to 2% and its estimates for inflation by 0.1% to 3.9%. 

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Original source: CEEMarketWatch