Business

The reasons behind the boost in Brazil’s short-term economic prospects

Brazil’s growth forecasts for 2022 have improved across the board. But any gains from early this year will likely be offset by dimmer prospects further down the line

gdp expectations
Photo: EamesBot/Shutterstock

Last week, Brazil’s Economy Ministry maintained its GDP forecast for this year at 1.5 percent. While this number seemed unrealistically optimistic a few months ago, it is now more closely aligned with market projections, as several financial institutions have recently revised their 2022 growth forecast upwards.

These include Goldman Sachs (0.6 to 1.25 percent), Bradesco (1 to 1.5 percent), Barclays (0.3 to 1 percent), Banco Inter (0.8 to 1 .2 percent), Bank of America (0.5 to 1.5 percent), and Citi (0.1 to 0.7 percent).

“This dynamic reminds us of what happened in the same period last year: estimates for Q1...

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