Markets’ 2022 growth forecast for Brazil at just 0.28 percent

2022 growth forecast feeble
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Market analysts once again lowered their projections for Brazil’s economic growth in 2022. In the latest edition of the Focus Report, a weekly Central Bank survey of top-rated investment firms, GDP estimates were slashed from 0.36 percent last week to 0.28 percent today — the third consecutive weekly drop.

For 2023, GDP growth projections also dropped from 1.8 to 1.7 percent. As for 2021 and 2024, the estimates remained the same: 4.5 and 2 percent, respectively.

As for inflation, analysts continue to expect a 5.03 percent increase for this year. Estimates were reduced from 3.41 to 3.36 percent for 2023 and remained at 3 percent for 2024. Projections for 2021’s final inflation rate fell from 10.01 percent to 9.99 percent — official figures will be published on Tuesday, along with figures from December.

And for the Selic benchmark interest rate, expectations increased from 11.5 to 11.75 percent for 2022 and continued at 8 and 7 percent respectively in 2023 and 2024.