Brazil: slowdown in economic activity expected

Analysts consulted by the Central Bank have cut the 2022 growth outlook to 0.29%.

RIO DE JANEIRO, BRAZIL - After growing around 4.5% in 2021, the forecasts are not encouraging for the Brazilian economy in 2022. According to a survey conducted by the Central Bank, the country's GDP will stagnate this year.

The main cause of the abrupt slowdown in activity will be the sharp rise in the interest rate, which currently stands at 9.25% and will reach 11.75% in the coming months. Analysts anticipate a first half of the year with declines and a second half slightly recovering, with a warning on the impact on local industry demand.

The forecasts . . .

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