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Last week, Brazil’s Economy Ministry maintained its GDP forecast for this year at 1.5 percent. While this number seemed unrealistically optimistic a few months ago, it is now more closely aligned with market projections, as several financial institutions have recently revised their 2022 growth forecast upwards.
These include Goldman Sachs (0.6 to 1.25 percent), Bradesco (1 to 1.5 percent), Barclays (0.3 to 1 percent), Banco Inter (0.8 to 1 .2 percent), Bank of America (0.5 to 1.5 percent), and Citi (0.1 to 0.7 percent).
“This dynamic reminds us of what happened in the same period last year: estimates for…
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