Brasília, 12/9/2003 (Agência Brasil - ABr) - The latest Central Bank weekly market survey, which collects opinions from financial institutions and consultancy firms, found that the outlook regarding GDP growth for this year has become more pessimistic. The Focus survey found that market estimates for GDP growth a month ago were running at 0.66% for the year, but have plummeted. Last week the market estimate was 0.30%, and now it is at 0.25%.

As for inflation, the market sees the IPCA (Broad Consumer Price Index) closing out the year at 9.18%, above the government's target of 8.50% [the IPCA is the government's official inflation gauge].

However, with regard to next year, there is more optimism. Market estimates are for 2004 GDP growth of 3.5%, and a debt/GDP ratio of 56% (it has been as high as 57.8%). (AB)