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LatinNews Regional Monitor: Brazil & Southern Cone - 21 March 2019

Economic Highlights

Stagnant growth: On 28 February, Brazil’s national statistics institute (Ibge) released its GDP growth figures for 2018, which show that Brazil’s gradual economic recovery is continuing at a slow pace. GDP grew by 1.1% in 2018, the same as in 2017, driven by the services sector (1.3% growth) and the industrial sector (0.6%), while the agricultural industry sector advanced just 0.1%. Financial institutions have revised projections for 2019 growth downwards following these revelations. Brazil’s central bank (BCB) revised its 2019 economic growth projections to 2.3% on 1 March, down from 2.5% a month earlier, while the Organisation for Economic Co-operation and Development (OECD) now projects 1.9% growth (down from 2.1%).

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