Brazil to cut 2014 growth forecast from 4.5 percent: source

BRASILIA Wed Aug 21, 2013 8:35pm EDT

BRASILIA (Reuters) - Brazil will cut its outlook for economic growth next year from 4.5 percent to a forecast more in line with market expectations, a government source said on Wednesday, underlining the stubborn nature of a slowdown in Latin America's biggest economy.

The new forecast, to be included in the government's 2014 budget proposal, will likely consider the forecasts of about 100 financial institutions in the central bank's weekly Focus survey, the source said.

The median growth forecast for Brazil's gross domestic product (GDP) next year has fallen to 2.5 percent in this week's Focus survey, from 4 percent in the survey a year earlier.

(Reporting by Luciana Otoni; Writing by Brad Haynes; Editing by Eric Walsh)

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