Brazilian economists have released a study whereby the country's Gross Domestic Product (GDP - the sum of all goods and services produced nationwide) is projected to grow 2.76% by the end of 2022, it was reported Monday.
Brazil's orthodox Economy minister Paulo Guedes anticipated that the multilateral institutions such as the IMF, once again are going to err their forecasts on the Brazilian economy growth. The comment follows on the IMF release stating that the Brazilian economy is estimated to grow 5,2% this year and 1,5% in 2022, below the government's forecasts.
The US dollar was traded at R$ 5.05 apiece Friday amid Brazil's volatile context with President Jair Bolsonaro under investigation for alleged corruption and a mega request for his impeachment already in Congress.
A survey from the prestigious Getulio Vargas foundation showed that Brazilian industrial confidence fell in February for a second consecutive month, further evidence that the economy is losing steam and could even contract in the first quarter.
Brazilian industrial confidence crashed to its lowest level on record in April, a survey showed as the lockdowns and sudden halt to swathes of activity lashed Latin America’s largest economy.
Brazilian inflation kicked off the year on a soft footing, official figures showed, as the IPCA consumer price index posted its smallest January increase since the country’s “Real Plan” was launched more than a quarter of a century ago.
Brazil’s public finances improved in October, Treasury figures showed on Thursday, as a seasonally expected monthly surplus helped reduce the government’s overall deficit this year and keep it on track to come in below target.
Industrial production in Brazil rose in August at its fastest pace in more than a year, official figures on Tuesday showed, a sign that Latin America’s largest economy may slowly be turning a corner after flirting with recession earlier in the year.
Brazil’s economy rebounded strongly in the second quarter after having shrunk in the first, official figures showed on Thursday, indicating Latin America’s largest economy comfortably avoided falling back into recession.
Brazil likely fell into recession in the second quarter according to a key gauge of economic activity that comes as policymakers grapple with high unemployment and weak investments as well as a global slowdown.