OECD improves GDP projection for Brazil and estimates 3.7% growth in 2021
RIO DE JANEIRO, BRAZIL – The Organization for Economic Cooperation and Development (OECD) has improved its projections for Brazil’s economic performance in the coming years. In a report on perspectives, the organization reported that it raised the projection for the country’s Gross Domestic Product (GDP) growth in 2021, from 2.6% in the December estimate to 3.7% in the current one. In 2022, expansion is expected to increase from 2.2% to 2.7%.
In the document, the organization highlights that Latin America’s largest economy is among the countries planning to continue income support programs, referring to emergency aid. It also points out that the recovery has occurred “relatively quickly” in many emerging economies.
However, the OECD perceives future risks for these nations, including tightening fiscal conditions, a resurgence of the coronavirus, and capital outflows amid rising interest rates on Treasuries. “For many emerging and developing economies, the risk of slower-than-expected vaccine delivery is an immediate concern that could slow consumer spending,” it explains.
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