The Financial Express

Brazil to review GDP growth projection: Official

Published: February 29, 2020 11:57:02 | Updated: March 04, 2020 15:28:11

File photo (Collected) File photo (Collected)

Brazil's gross domestic product (GDP) estimates will be reviewed, given the impact of the novel coronavirus epidemic, a government official has said.

According to Adolfo Sachsida, economic policy secretary at the Economy Ministry, the new estimates are expected to be made public by the end of next week.

Currently, the ninth-largest economic country’s GDP is projected to increase by 2.4 per cent this year, reports Xinhua.

Three aspects -- the domestic demand, the supply chain and the price of commodities -- will be considered, Sachsida said on Friday, adding that the three factors were stable until two weeks ago when perspectives have been declining, which might overshadow the GDP growth.

As China, which is stricken by the epidemic, is Brazil's major trade partner, the country's supply chain might be affected, he added.

Sachsida believes that Brazil should work to become less vulnerable to external shocks, which can be facilitated by reforms carried out by the administration.

"The best medicine against the coronavirus is to advance the reform agenda," he said.

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