Brazil's market maintains 2.75 pct growth forecast for 2018

BRASILIA, April 30 (Xinhua) -- Brazil's financial market maintained its economic growth forecast at 2.75 percent for 2018 and 3 percent for 2019, the Central Bank of Brazil (BCB) said on Monday.

The bank's own growth forecast, released at the end of March in its Quarterly Inflation Report, projected more modest 2.6 percent expansion in GDP this year, while Brazil's Finance Ministry predicted more positive growth of 3 percent.

The bank's survey of financial institutions showed projected growth in the industrial sector rose slightly to 4.28 percent, compared to the 3.91 percent forecast a month ago.

For 2019, expected industrial production remained unchanged at 3.5 percent, the same as last month's projections.

The exchange rate is expected to close the year at 3.35 reals to the dollar, compared to the 3.3 rate predicted a month ago, with the rate reaching 3.4 reals to the dollar in 2019. The current rate in 3.49.

The market forecast a slightly higher trade balance for 2018, going from 55 billion U.S. dollars to 56.1 billion U.S. dollars, but a somewhat lower performance in 2019, going from 45.33 billion to 45 billion.

Direct foreign investment is expected to register 75 billion U.S. dollars this year and 80 billion U.S. dollars the next. Enditem