The IMF improved Brazilian growth forecasts in its report published on Tuesday (31). Brazil and Mexico drove up the projections for Latin America and the Caribbean.
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Paulo Guedes told a group of worldwide dignitaries in Washington about Brazil’s economic recovery.
Brazil’s Gross Domestic Product increased from April to June compared to the first three months of the year, mainly driven by the services sector. In the first half, the country grew by 2.5%.
The Central Bank’s economic activity index rose 0.69% in June from May and 3.09% from June 2021.
The national institution increased its estimate for Brazilian GDP growth in 2022, which in March was at 1%. Household consumption and investment in production could be some of the main boosters.
The index calculated by Fundação Getulio Vargas that measures the Brazilian economic climate increased by 2.1 points in the second quarter of this year over the first.
Brazil’s GDP fell in comparison to the previous three months. Still, there was a 4% increase compared to 2020, the year in which the pandemic hampered economic activity.
Due to foreign trade performance, the International Monetary Fund projects an increase of 5.3% for the country’s GDP this year, 1.6% above the April estimate. For next year, however, the outlook has worsened.
Foreign trade surplus benefited the country’s current accounts in April, which reached a record-high USD 5.7 billion.
How are the Brazilian and Arab economies in this second year of COVID-19? Which innovations will the world live with from now? These are some of the topics of the webinar the ABCC will host on Thursday (11), when it will also present its 2021 activities calendar.
