21.09.201720:08:00UTC+00BRAZIL: Central Bank Increases GDP Growth Estimate For 2017 To 0.7%

Brazil's central bank increased to 0.7% from 0.5% its projection for the country's Gross Domestic Product (GDP) growth in 2017. The estimate was released in the central bank's Quarterly Inflation Report.

According to the central bank, the new projection primarily reflects the positive performance of the Gross Domestic Product in the second quarter (+0.2% over the previous quarter).

In the document, the Brazilian monetary authority points out that economic indicators have shown positive surprises, "providing favorable prospects for the growth of activity."

For 2018, the central bank estimates a 2.2% GDP growth.