International Monetary Fund estimates that reduced Brazilian GDP should grow by just 2.4% from 2020 to 2022 versus 7.6% of the global average and much lower than other emerging countries (9.5%)
247 – The International Monetary Fund lowered its cumulative GDP growth estimates for the period from 2020 to 2022 while maintaining projections indicating cumulative global growth (7.6%) and emerging countries (9.5%). According to the institution, Brazil’s gross domestic product should grow 2.4% in total, down 0.5 percentage points from its July estimate, when the fund had collected 0.9 percentage points from its economic growth forecast.
According to a press report Economic valueThe fund also revised upwards its forecast for Latin America, from 1.5% to 1.8%, and Brazil saw a drop in its forecast. Previously, it was expected that the Brazilian economy would grow twice as much as in Latin America. With the revision in October, that increase was reduced to only a third of the previous forecast.
a The reduction is linked to lower odds for next year, when the International Monetary Fund expects Brazil to grow by just 1.5%, versus 1.9% in the previous estimate. For this year, the foundation cut its forecast by 0.1 percentage point, to 5.2%. For the IMF’s chief economist, Gita Gopinath, the downgrade in the Brazilian outlook is mainly linked to an increase in the policy rate to try to contain high inflation.
According to the report also, “In comparing 30 of the world’s major economies, the 0.4 percentage point reduction suffered by the Brazilian forecast for the coming year, from July to October, was not only greater than that of Thailand (1.6 points) and the Philippines.” (0.7 points)”.
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