LatinNews Daily - 18 December 2019

* The Confederação Nacional das Indústrias (CNI), a private sector lobby in Brazil, has released its latest report on the Brazilian economy, in which it predicts 1.2% GDP growth for 2019. This is above market projections of 1.12% as calculated in the central bank’s (BCB) latest Focus bulletin. The CNI notes that Brazil’s economy has strengthened over the course of the year, with an acceleration in consumption due to an increase in job creation and the fall in interest rates. The CNI also pinpoints the government’s decision to give one-off end-of-year access to the Fundo de Garantia do Tempo de Serviço (FGTS) workers’ fund as providing an additional boost to demand. CNI president Robson Braga de Andrade has declared that the scenario is positive for 2020, with 2.5% growth expected to be driven by good results in the industrial sector and increased investments.

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