IMF raises GDP growth projection for Brazil to 1.7% in 2022

However, sources in the Brazilian Ministry of Economy said in mid-July that the department would raise its growth forecast for this year from 1.5% to 2%, a change supported by the unexpectedly good recent economic indicators. The IMF is notorious in Brazil for its spectacularly wrong forecasts.

The International Monetary Fund IMF significantly raised its estimate for Brazilian economic growth this year despite the difficulties faced by global economies. Still, it started to see the weaker performance in 2023.

In the revision of global estimates in its Global Economic Prospect report, the IMF now sees Brazil's Gross Domestic Product growth this year at 1.7%, well above the 0.8% rate calculated in April.

IMF NOTORIOUS FOR INACCURATE FORECASTS

The IMF is notorious in Brazil for its wrong forecasts.

The agency predicted that Brazil's gross domestic product (GDP) would fall by almost 10% in 2020 . . .

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