Brazil Sees Current Account Gap Widening to Record Next Year

Brazil’s central bank forecast the country’s current account deficit will widen next year to the biggest on record as strong demand causes growth to accelerate.

The deficit in the current account, the broadest measure of trade in goods and services, is expected to rise to $65 billion in 2013 from an estimated $52.4 billion this year, the bank said in a report today. The shortfall widened in November to $6.3 billion, more than the $6.1 billion median forecast in a Bloomberg survey of 20 economists.