Weekly Report - 06 May 2010 (WR-10-18)

BRAZIL | Current account. Brazil posted a current account deficit of US$12.1bn in the first quarter. This was the worst ever result, bringing the 12-month accumulated deficit to 1.79% of GDP. The result was on the back of booming imports. The deficit was forecast to rise to 2.5% of GDP by the end of the year, and remain at that rate in 2011 before returning to “normality" in 2012, the central bank said [WR-10-03].

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