Brazil to cut 2019 GDP growth forecast, weak revenues could prompt budget freezes

BRASILIA: Brazil's government will likely lower its 2019 economic growth forecast to around 0.8%-1.25% from 1.6% currently, while slowing revenues could lead the government to announce more budget freezes, a senior Economy Ministry official said on Monday.

Special secretary to the Economy Ministry Waldery Rodrigues also said that he will formally request development bank BNDES to return 126 billion reais ($33 billion) to the government this year, and warned that Brazil must avoid debt surpassing 80% of GDP.