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A sluggish economy, weaker growth potential, rising debt, and government deficit were given as reasons for the demotion.
The country faced a massive blackout on February 4 that affected three regions, striking 13 states and the capital city.
IBGE data showed that industrial output for February had grown by 2.9 per cent - 0.4 per cent above estimates.
"It was a surprise even for the government," said Finance Minister Guido Mantega.
Conservationists say that deforestation dramatically surged since Congress passed a 2012 bill that weakened existing land and forest codes.
Tombini also indicated he wasn't worried about Fed Tapering, saying it was a sign of a strengthened US economy.
China is expected to account for 64 per cent of world soybean imports in 2013-14.
The government has admitted to problems in energy distribution.
Presently BRICS GDP equals that of half of the 34-member OECD.
Brazilian Foreign Minister Figueiredo met Thursday with US National Security Advisor Susan Rice.
