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.
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.
According to a Central Bank indicator, the economy picked up in Q1 2021 from Q4 2020.
An index from the Brazilian Central Bank shows activity picking up in January 2021 from December 2020 and slowing down year-on-year in January.
A preview of an indicator from Fundação Getúlio Vargas shows activity climbing 0.6% over April.
The Brazilian Central Bank’s Economic Activity index increased in quarter three from quarter two.
