Financial market estimates 4.11% shrinkage in economy this year

The financial market for the 13th consecutive week revised the forecast for the reduction in the economy this year. The predicted contraction of Brazil’s gross domestic product went from 3.76 to 4.11 percent.

The estimate can be found in the Focus market readout, a publication put together weekly by the Central Bank, with the projection for the main economic indicators.

The forecast for the growth of the GDP in 2021 remains at 3.2 percent and 2.5 percent for 2022 and 2023.