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Brazil May Lower 2011 GDP Growth Estimate to 3.5%, O Estado Says

Brazil’s government may reduce its forecast for economic growth this year to 3.5 percent after cutting its estimate to 3.8 percent on Nov. 18, O Estado de Sao Paulo reported, citing Deputy Finance Minister Nelson Barbosa.

Barbosa doesn’t expect the country to enter a recession this year and said the government is maintaining its official forecast for 5 percent economic growth in 2012, the Sao Paulo-based newspaper said.

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