Brazilian stocks fell to the weakest level in more than three months on Tuesday, with benchmark Ibovespa finishing below 94,000 on fears that President Bolsonaro is unwilling to take the tough decisions required to limit record deficit and debt and get the public finances back to health. Brazil’s central bank latest weekly survey FOCUS projected that the country’s economy could shrink by 5.04% this year, though a slight improvement from previous week’s estimate of a 5.05% contraction.
Historically, the Brazil Stock Market (BOVESPA) reached an all time high of 119593.10 in January of 2020. Brazil Stock Market (BOVESPA) - data, forecasts, historical chart - was last updated on September of 2020.
The Brazil Stock Market (BOVESPA) is expected to trade at 91788.51 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 83666.14 in 12 months time.