{"id":367360,"date":"2024-05-28T16:01:34","date_gmt":"2024-05-28T19:01:34","guid":{"rendered":"https:\/\/anba.com.br\/?p=367360"},"modified":"2024-05-28T16:03:00","modified_gmt":"2024-05-28T19:03:00","slug":"imf-lifts-brazils-growth-forecast","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/imf-lifts-brazils-growth-forecast\/","title":{"rendered":"IMF lifts Brazil’s growth forecast"},"content":{"rendered":"\n

S\u00e3o Paulo \u2013 After a visit to Brazil during May 15-27, an International Monetary Fund (FMI<\/a>) staff team released on Tuesday (28) a statement on the country\u2019s economic landscape. The fund revised up its growth forecast for the country\u2019s gross domestic product over the medium term, from 2% to 2.5%, reflecting the implementation of the VAT reform and an acceleration in hydrocarbon production. Investment in green growth opportunities could further boost the country\u2019s economic potential, it said.<\/p>\n\n\n\n

The fund says Brazil\u2019s economy has been \u201cremarkably resilient\u201d as inflation has come down over the past two years.<\/p>\n\n\n

\n
\"Oil
Oil platform off Brazil\u2019s coast: Growth reflects the commodity\u2019s production<\/figcaption><\/figure>\n<\/div>\n\n\n

\u201c[Brazil\u2019s] growth is projected to moderate to 2.1 %in 2024 and 2.4% in 2025, from 2.9% in 2023. Inflation is expected to reach 3.7% by end-2024 and converge to the 3% target in the first half of 2026. The current account deficit narrowed in 2023 on the back of a strong trade surplus and was financed by robust FDI,\u201d said the statement, with FDI standing for foreign direct investment.<\/p>\n\n\n\n

Read more:<\/em>
Global economy to grow 3.2%, IMF says<\/a><\/em><\/p>\n\n\n\n

Some reasons supporting Brazil\u2019s resilience, the IMF said, are foreign exchange reserves, low reliance on FX debt, large government cash buffers, and a flexible exchange rate.<\/p>\n\n\n\n

Fiscal effort<\/strong> recommended for Brazil’s growth<\/h2>\n\n\n\n

The IMF pointed out that the authorities\u2019 commitment to improve Brazil\u2019s fiscal position is \u201cwelcome\u201d. \u201cTo put public debt on a firmly downward path and open space for priority investments, IMF staff recommends a sustained and more ambitious fiscal effort, supported by both revenue and spending measures and an enhanced fiscal framework,\u201d the fund said.<\/p>\n\n\n\n

The fund praised the \u201cambitious sustainable and inclusive growth agenda\u201d, mentioning the Ecological Transformation Plan, with a government commitment to halt illegal deforestation by 2030; a new carbon market framework; and the issuance of the first Global ESG sustainable government bond \u2013 ESG meaning environmental, social and corporate governance.<\/p>\n\n\n\n

\u201cGiven sizable climate financing gaps, we welcome progress in designing instruments to attract longer-term green financing,\u201d the fund added. It also expressed its condolences for the flood calamity in Rio Grande do Sul, whose macroeconomic and fiscal effects, it said, are still uncertain.<\/p>\n\n\n\n

Translated by Guilherme Miranda<\/strong><\/p>\n

\u00a9Anselmo Cunha\/AFP<\/div>
Supplied\/Petrobras<\/div>","protected":false},"excerpt":{"rendered":"

An International Monetary Fund staff team has released an end-of-mission statement on the country’s economy saying investment in green growth opportunities could boost Brazil\u2019s economic potential.<\/p>\n","protected":false},"author":2316,"featured_media":367346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[49559,3801,17689,1988,49560,5431,1964,49562],"class_list":{"0":"post-367360","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-brazils-gdp-2","9":"tag-brazilian-economy","10":"tag-esg","11":"tag-imf","12":"tag-imf-on-brazil","13":"tag-international-monetary-fund","14":"tag-oil","15":"tag-vat-reform"},"wps_subtitle":"An International Monetary Fund staff team has released an end-of-mission statement on the country's economy saying investment in green growth opportunities could boost Brazil\u2019s economic potential.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/367360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=367360"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/367360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/367346"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=367360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=367360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=367360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}