March 28, 2019 / 11:28 AM / 3 months ago

Brazil central bank revises down 2019 GDP growth forecast to 2 pct

BRASILIA, March 28 (Reuters) - Brazil’s central bank revised its forecast for 2019 gross domestic product growth to 2 percent in a report released on Thursday, down from 2.4 percent previously, as a major mining tragedy and a tough harvest will likely weigh on the nation’s economy.

In the report, the bank said weak fourth-quarter growth figures, the effects on the mining industry related to a deadly burst at a dam owned by Brazilian miner Vale SA and a weak forecasts for agricultural harvests contributed to the downward revision.

Reporting by Marcela Ayres; Writing by Gram Slattery

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