(MENAFN) Brazil's economic growth forecast for this year had been cut from 1.45 percent to 1.24 percent.
Based on the weekly report by the central bank, after consulting 100 financial market economists, this is the 12th consecutive decrease in growth forecasts for the country.
The official economic growth result for Brazil's first quarter gross domestic product (GDP) will be released by the end of the month by the Brazilian Institute of Geography and Statistics (IBGE).
Regarding the exchange market, analysts expect that the U.S. dollar will be at 3.8 reals at the end of the year, after a forecast of 3.75 reals to the U.S. dollar last week.
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