Brazilian gross domestic product (GDP) in 2015 is expected to reach its lowest level in 25 years, according to media reports.
A minister said the Brazilian government is now expecting a 1.2 percent retraction in the nation’s GDP. Before the announcement, the minister of planning, Nelson Barbosa, said the Brazilian government was expecting a 0.9 percent decline in the country’s GDP by 2015.
Economists said the new forecast is bad news for the nation’s recovering economy.
The Brazilian government has also made a new forecast for inflation, which is expected to reach 8.26 percent this year, far from the 4.5 percent target established by elected president Dilma Rousseff.