Brazil economy ministry cuts 2021, 2022 GDP forecasts

BRASILIA, Nov 17 (Reuters) - Brazil's economy ministry on Wednesday cut its forecasts for GDP growth this and next year, while it raised its outlook for inflation, showing some economic deterioration on its radar.

GDP is likely to grow by 5.1% this year and 2.1% in 2022, down from 5.3% and 2.5%, respectively from a previous outlook, the government said. Inflation measured by the IPCA consumer price index is seen at 9.7% this year, from 7.9% previously, and 4.7% in 2022, from 3.75% before.

(Reporting by Marcela Ayres, writing by Carolina Mandl, editing by Andrew Heavens)

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