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Final week, Brazil’s Financial system Ministry maintained its GDP forecast for this 12 months at 1.5 p.c. Whereas this quantity appeared unrealistically optimistic a number of months in the past, it’s now extra intently aligned with market projections, as a number of monetary establishments have just lately revised their 2022 progress forecast upwards.
These embody Goldman Sachs (0.6 to 1.25 p.c), Bradesco (1 to 1.5 p.c), Barclays (0.3 to 1 p.c), Banco Inter (0.8 to 1 .2 p.c), Financial institution of America (0.5 to 1.5 p.c), and Citi (0.1 to 0.7 p.c).
“This dynamic reminds us of what occurred in the identical interval final 12 months: estimates for…
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