Santander sees Brazil’s economy performing “better than expected”

The Brazilian government expects a Gross Domestic Product (GDP) growth of 2% in 2022, almost in line with the 1.9% forecast by the financial market and the 1.7% pointed out by the International Monetary Fund (IMF).

Santander's Brazilian subsidiary notes that Brazil's economy is performing "better than expected" this year, even though it believes it is likely to contract in the short term in the face of rapidly rising official interest rates.

"This year's growth will be better than we all imagined at the beginning, but it is difficult to believe that, with rates going to a high 13% or low . . .

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