LatinNews Daily - 20 May 2022

In brief: Brazil maintains GDP forecast but predicts higher inflation

* Brazil’s economy ministry has released its bimonthly fiscal bulletin, in which it maintained its forecast of 1.5% GDP growth in 2022, but raised its year-end inflation forecast from 6.55% to 7.90%. It then expects GDP growth to rise to 2.5% in 2023. The unchanged GDP forecast for this year reflects a confidence in Brazil’s ability to ride out a multitude of challenges, including inflation and supply chain shortages stemming from the Ukraine war and continued coronavirus (Covid-19) lockdowns in China, high interest rates, and relatively high unemployment.

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