Brazil goes in the opposite direction than other countries, we have lower inflation and a higher GDP -Bolsonaro

Brazilian President Jair Bolsonaro said Thursday 28 that Brazil is “going against the grain” of the world and should record a high gross domestic product (GDP) this year.

The conservative leader commented on the International Monetary Fund (IMF) forecast released Tuesday (26), which raised the country’s estimated economic growth to 1.7% in 2023, higher than the 0.8% rate calculated in April.

Brazil is showing the first signs that inflation is leveling off, while in other countries, it is only just beginning. At the same time, the country has created a record number of jobs, seen a positive investment development, and achieved the best primary surplus in its history last month.

In addition, food prices have stabilized, energy costs are falling, and fuel prices have also dropped significantly.

“Brazil is going in the opposite direction. We have low inflation and high GDP. According to the forecasts, this year we will be one of the few countries with a positive GDP,” he said in a post on social media.

The president again criticized the price control policy in Argentina. “At that time, price control did not work in Brazil. In the beginning, many people cheer. In two, three, or four months, a shortage of products will be sold in the parallel market. The economy cannot be fixed by force,” he said.

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