According to the Focus bulletin published by the Brazilian Central Bank, for the 6th consecutive week, a survey conducted by the institution with market analysts consulted reduced the growth projection of the Brazilian economy. According to the Focus bulletin, the country's Gross Domestic Product (GDP) is expected to advance 1.97% in 2019.
However, there are analysts in Brazil working with estimates below that number, around 1.5%. The slow pace of economic recovery and instability in the political environment have led to declining expectations.
Due to these prognoses, the Government of Brazil announced the blocking of R $ 29.79 billion in this year's Budget. One of the most significant decreases was in the area of Agriculture. The growth projection fell from 2% to 1%. For the industry sector, the expectation of growth for the year 2019 went from 2.9% to 1.8%.
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