Brasília, July 2, 2003 (Agência Brasil - ABr) - The forecast that the Gross Domestic Product (GDP) will grow 1.5% this year was categorized as "extraordinary" by the president of the Central Bank, Henrique Meirelles. "This will represent an extraordinary performance, when compared with declines in production faced by countries that faced crises similar to the one faced by Brazil," he said.

According to Meirelles, despite this, the expectation for growth this year "is surely not what we need," and it is less than what should prevail in the country in coming years. Yesterday, the Central Bank released a report that foresees 1.5% growth in the GDP this year. This expectation is less than the 2.2% forecast three months ago. These declarations were made during the ceremony in which Afonso Bevilaqua took over as the Central Bank's new director of Economic Policy. (DAS)