World Bank tips Brazilian economy to grow by 2 pct in 2020

The World Bank has reduced its forecast of growth in the Brazilian economy this year to 2 percent from a 2.5 percent prediction made back in June, Xinhua reports.

But the Chinese government-run news agency says the January edition of a World Bank publication, Global Economic Prospects, increases the forecast of Brazilian economic growth next year to 2.5 percent from 2.3 percent.

Global Economic Prospects says greater confidence among investors and greater ease of borrowing will stimulate investment and consumption in Brazil.

But the economy there remains vulnerable, and faces difficulties such as those posed by the labour market, Xinhua quotes the World Bank as saying.