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LatinNews Daily - 20 October 2020

In brief: Market forecast for Brazil’s GDP continues to improve

*Economists polled by Brazil’s central bank (BCB) in its weekly Focus survey have revised up their GDP growth forecast for 2020 from -5.03% to -5%. This is the 15th consecutive week on which the polled economists have slightly improved the year-end GDP forecasts amid expectations that Brazil’s economy is starting to recover from the record low 11.4% year-on-year fall in GDP registered in the second quarter of the year due to the impact of the coronavirus (Covid-19) pandemic. The latest Focus forecast is still below the -4.7% projected by the government but above the estimates by the World Bank (-5.4%) and the International Monetary Fund (-5.8%).

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