May 17, 2019 / 6:43 PM / in 7 months

Brazil GDP expectations are falling, not growth itself - Economy Minister

RIO DE JANEIRO, May 17 (Reuters) - Expectations for Brazil’s economic growth are falling rather than growth itself, Economy Minister Paulo Guedes said on Friday, blaming fragmented domestic politics and the resulting slow progress of the government’s pension reform bill in Congress.

Speaking to reporters in Rio de Janeiro, Guedes said the growth outlook for the second half of the year will be different if pension reform is passed in the next two or three months.

There has been a barrage of downward revisions to growth forecasts recently. Guedes said this week the government will lower its 2019 growth outlook to 1.5% from 2.2%, and the central bank said the economy probably contracted in the first quarter. (Reporting by Pedro Fonseca Writing by Jamie McGeever Editing by Jonathan Oatis)

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