Brasilia, Aug 13 : Brazilian financial analysts have downgraded their forecast for the country's economic expansion in 2013 and 2014.

In a survey conducted by the Central Bank of Brazil, 100 respondents cut their expectations for the economic growth this year from 2.24 percent to 2.21 percent, reported Xinhua.

For the next year, they lowered their growth forecast from 2.6 percent to 2.5 percent.

The financial market forecasts are significantly lower than those of the finance ministry, which recently adjusted its growth projection from 3.5 percent to three percent for 2013.

The analysts also lowered their prediction in inflation rates from 5.75 percent to 5.74 percent for 2013, and from 5.87 percent to 5.85 for 2014, both above the government's median target of 4.5 percent.

Trade surplus in 2013 is expected to dip from $5.09 billion to $5 billion, and stand steady at $8 billion in 2014.(IANS)