The Brazilian government may reduce its estimate for economic expansion in 2011 as debt and growth concerns in developed nations have led to a slump in stock markets, a government official said.
President Dilma Rousseff’s economic team expects Latin America’s largest economy to expand 3.8 percent to 4 percent this year, down from a previous forecast of up to 4.5 percent by the Finance Ministry, said the person, who asked not to be identified as the forecast isn’t public.
