Brazil economy to grow less than 3% in 2013
2013-05-21 16:29:21
The country's economy will grow less than three percent this year, lower than previously predicted, according to the latest forecast released on Monday.
Analysts and traders surveyed by the South American country's central bank said they estimate GDP will increase by 2.98 percent in 2013, anticipating for the first time that growth will not surpass 3 percent.
The government, however, still forecasts growth of 3.5 percent. Last year, the economy grew just 0.9 percent.
In her weekly radio address President Dilma Rousseff touted that 4.1 million jobs were created since the start of her tenure in January 2011.
"The number is extraordinary and its importance is even greater when we compare our situation to that of developed countries, especially European countries, where unemployment has risen to stratospheric levels," Rousseff said.
Brazil's unemployment level stood at 5.7 percent in March, the lowest for that month in 11 years.