RIO DE JANEIRO, Feb 28 (Reuters) - Brazil is likely to cut its official estimate for 2020 gross domestic product growth before the end of next week, due to the effects of the coronavirus outbreak, a government official said in comments published on Friday.
Speaking to Brazil’s O Estado de S. Paulo newspaper, Brazil’s Economic Policy Secretary Adolfo Sachsida declined to give specific numbers, and added that he did not see fiscal stimulus as necessary at the moment.
“We will have a more solid position (regarding GDP) at the end of next week,” Sachsida said, according to the newspaper.
Earlier in February, Sachsida said that a prolonged coronavirus outbreak could affect Latin America’s largest economy if commodity prices remain low for a long time. At the time, he said he did not see a reason to reduce the government’s GDP growth forecast, which is currently 2.4%.
Brazil’s Economy Ministry did not immediately respond to a request for confirmation or comment on the Estado de S. Paulo article.
Reporting by Gram Slattery; Editing by Alison Williams