Brazil govt to cut 2019 GDP forecast below 2% -Economy Ministry

BRASILIA, May 14 (Reuters) – Brazil’s government will cut its forecast for 2019 economic growth below 2% from the current 2.2%, and seek supplementary funding of around 248 billion reais ($63 billion) from state-run BNDES development bank to meet current expenditure, Economy Ministry officials said on Tuesday.

Waldery Rodrigues, special secretary to the ministry, said the growth forecasts will be revised on May 22, while Economy Minister Paulo Guedes said the funding was needed to pay bills and reflected the government’s serious fiscal difficulties.

Both were speaking at a public hearing in Brasilia of a budget commission made up of Brazilian deputies and senators.

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