Banks Bradesco and BNP Paribas on Friday (29) revised their forecasts for economic growth in Brazil this year.
Bradesco raised its estimate for Brazilian gross domestic product (GDP) growth to 2.3% from 1.8%. BNP raised its forecast from 1.5% to 2.5%. This information was provided by the newspaper O Estado de Sao Paulo.
The reports of the two institutions indicated that the change in expectations for Brazilian GDP was due to positive surprises related to the domestic economy, the labor market, and more fiscal stimulus.
"The extraordinary withdrawal of the FGTS between May and June and . . .