Brazilian economy to grow faster in 2010

15:08, June 08, 2010      

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Brazil's economy will grow 6.6 percent this year, up from the original projection of 6.47 percent, according to a new survey released on Monday.

But the estimate for next year's growth are unchanged at 4.5 percent, said Focus survey which was conducted by the Central Bank and other major financial institutions of the country. Industrial production is expected to expand by 11.3 percent this year and by 5 percent in 2011.

The faster-than-expected growth has become a concern for the government and analysts because it could lead to imbalances of the economy. Brazilian authorities have already started considering measures in case of economic overheating.

The survey also expects a surplus of 15 billion U.S. dollars this year in the country's foreign trade, and an inflow of 36.5 billion dollars of foreign direct investments.

The country's current account deficit is now projected to reach 48.5 billion dollars in 2010 and 57.9 billion dollars in 2011. The estimate for the exchange rate is 1.8 reais per dollar this year and 1.85 reais per dollar by the end of 2011.



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