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Brazil's financial experts downgrade 2020 growth forecast to 2.2 pct
Last Updated: 2020-02-27 05:27 | Xinhua
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Brazilian financial analysts have downgraded their economic growth forecast for 2020 from 2.23 percent to 2.2 percent, Brazil's central bank said Wednesday.

The bank's latest survey of the country's leading financial institutions showed analysts maintained their growth projections for 2021 at 2.5 percent.

Experts also reduced their inflation forecast for 2020 from 3.22 percent to 3.2 percent, while maintaining their previous 3.75 percent projected inflation rate for 2021.

Expected inflation falls within the government's target range of between 2.5 percent and 5.5 percent.

The economists maintained their estimated benchmark interest rate at 4.25 percent for 2020 and 6 percent for 2021.

Brazil is expected to receive 80 billion U.S. dollars in foreign direct investment in 2020 and 84.75 billion dollars in 2021, the survey said.

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