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Brazil's economic growth revised up to 2.8 pct: central bank

 BRASILIA:Brazil's financial market expected the country's economy to grow 2.8 percent in 2022, up from 2.77 percent in the previous forecast, a survey of the central bank showed Monday.

 Its economic growth forecast for 2023 remains steady at 0.7 percent, according to the weekly survey of leading financial institutions in Brazil.

 

  The Central Bank of Brazil also found that 2022 inflation forecast slightly increased to 5.88 percent from 5.82 percent. And for 2023, it expected the inflation to reach 5.01 percent.

 The government set target inflation at 3.5 percent for 2022 and 3.25 percent for next year, in both cases with a margin of error of 1.5 percentage points.

 The benchmark interest rate, which is currently at 13.75 percent, is expected to remain unchanged until the end of the year and gradually drop in 2023. 

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