São Paulo – The International Monetary Fund (IMF) has raised its 2022 gross domestic product (GDP) for Brazil to 1.7%, up 0.9 percentage point from April’s forecast, it reported in an update of its World Economic Outlook on Tuesday (26).
The IMF also increased Brazil’s GDP projection for 2023 to 1.1% from April’s 0.9%.
Latin America and the Caribbean have also seen an upward revision of 0.5 percentage point to 3% in 2022 and 2% in 2023 as a result of a more robust recovery in large economies such as Brazil, Mexico, Colombia and Chile.
Global real GDP growth will slow to 3.2% in 2022 from a forecast of 3.6% issued in April, the IMF said, due to downturns in China, United States, and Russia.
The report mentions high inflation worldwide and further negative spillovers from the war in Ukraine as some of the shocks that have hit a world economy already weakened.
Translated by Guilherme Miranda
