Please try one other search


Economy50 minutes prior to now (Nov 12, 2021 04: 39PM ET)


© Reuters. FILE PHOTO: Brazil’s Economy Minister Paulo Guedes speaks right thru the launching ceremony of the Nationwide Green Growth Program, on the Planalto Palace in Brasilia, Brazil October 25, 2021. REUTERS/Adriano Machado/File Photograph

RIO DE JANEIRO (Reuters) – Brazil’s Economy Minister Paulo Guedes on Friday said markets are underestimating the nation’s disclose ability, adding that he expects the economic system to grow by better than 5% this year and by on the least 1% in 2022.

Guedes rejected criticism by The Economist this week that he changed into backing the authorities’s try to bypass a constitutional spending cap that changed into well-known in righting Brazil’s funds.

“The Economist must assume at its rep navel. Brazil is more fit than the broad economies, namely the UK,” he said, referencing the nation that headquarters the magazine.

Guedes ironized: “The one which wants to be doing well is England. There are traces there to rep purchase a car, a shortage of meat, and the GDP dropped by 9.7% while we fell by 4%,” he said.

The Brazilian central bank’s Focal point survey of economists, which is seen as a hallmark of market sentiments, diminished disclose expectations for subsequent year to 1% from 1.2%. Some financial analysts are already forecasting disclose at shut to zero, warning there is a probability of stagflation, or sustained inflation with behind disclose.

“They continue to underestimate Brazil. They underestimated when we went down, and I train they’ll be wrong again,” Guedes told Reuters on Friday in a cellphone interview.

He said Latin America’s greatest economic system has a solid unsuitable, despite the coronavirus-brought about economic shock that aim file unemployment.

“Fiscal fundamentals are very significant and the central bank is chasing inflation,” he said. In October, the person imprint index rose 1.25%, the finest monthly upward push since 2002 rushing up annual inflation to 10.67%.

Guedes acknowledged that, despite the pandemic, the nation is producing broad investments, corresponding to those dedicated by non-public corporations in the 5G spectrum telecoms public sale remaining week.

Connected Articles

Disclaimer: Fusion Media would fancy to remind you that the records contained on this net attach is no longer essentially exact-time nor magnificent. All CFDs (stocks, indexes, futures) and Forex costs are no longer supplied by exchanges nevertheless barely by market makers, and so costs can also unbiased no longer be magnificent and would possibly per chance perchance well unbiased vary from the exact market imprint, which plan costs are indicative and no longer appropriate for purchasing and selling applications. Therefore Fusion Media doesn`t maintain any accountability for any purchasing and selling losses probabilities are you’ll per chance perchance well per chance incur consequently of the spend of this files.

Fusion Media or somebody enthusiastic with Fusion Media is no longer going to accept any liability for loss or harm consequently of reliance on the knowledge including records, quotes, charts and purchase/sell signals contained within this net attach. Please be entirely told regarding the dangers and bills associated with purchasing and selling the financial markets, it is among the riskiest Investment kinds conceivable.

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here