WORLD BANK RAISES EXPECTATIONS FOR BRAZIL’S ECONOMIC GROWTH IN 2021

The Brazilian economy is expected to grow 5.3% in 2021, a more optimistic forecast than the last estimate (4.5%) in June this year. “The Brazilian economy has greatly improved and growth is like to reach 5.3% this year,” said the World Bank’s chief economist for Latin America and the Caribbean William Maloney. “It is important to emphasize that the region, in general, and including Brazil, was not performing well before the crisis,” he added while pointing out that political uncertainties can affect investments and, consequently, the economic growth of any nation. In 2022 and 2023, the Brazilian Gross Domestic Product (GDP) is expected to increase, respectively, 1.7% and 2.5% – numbers also lower than expectations for Latin America and the Caribbean, which are expected to increase 2.8% in 2022 and 2.6% in 2023. “We need to focus on long-term structural problems. In addition to reducing short-term uncertainties,” Maloney said while giving details of the biannual report in which the World Bank presents a panorama of the region, with an emphasis on post-pandemic perspectives.

Source: Canal Rural (*Translated by Ia Niani)