Brazil: IMF predicts Brazilian economy to grow 4.8 pct in 2008

10 April 2008

Brasilia, Brazil, 10 April – The International Monetary Fund (IMF) has forecast that Brazil’s economy will expand by 4.8 percent this year, higher than its previous estimate of 4.5 percent.

In its spring estimates for world economic growth, the IMF said Brazil’s economy is set to grow by 3.7 percent in 2009, down 0.3 percentage points from previous forecasts.

Despite this revised growth estimate, Brazil’s economy will grow at a slower pace than last year, as will the economies of most other countries.

The IMF was downwardly revised its forecast for global economic growth from 4.1 to 3.7 percent.

China’s economy will expand by 9.3 percent in 2008 and 9.5 percent in 2009, the IMF spring report said, down 0.7 and 0.5 percent, respectively, from the world financial body’s last forecast in October. (macauhub)