(MENAFN) According to the Brazilian ministry of planning, the country has lowered its economic growth forecasts for 2014 to 0.9 percent from a previous 1.8 percent, Xinhua reported.
If the forecast came true, the South American country will register the lowest growth rate since the year 2009, when the country was knocked by the global financial crisis.
The low figure remains higher than market forecasts for growth of 0.3 percent this year, according to the latest survey of Brazil's financial institutions, published by the central bank.
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