LatinNews Daily - 18 November 2022

In brief: Brazil’s government cuts growth forecast for 2023

*The secretariat of economic policy (SPE) in Brazil’s economy ministry has updated its projections for the country’s GDP growth in 2023 from 2.5% in its previous (September) forecast to 2.1%. SPE kept its estimate for the economy’s expansion in 2022 unchanged, at 2.7%. According to the economy ministry, the revision was driven by a deterioration in prospects for the international economy in 2023. The projections of the ministry are not in line with those of financial market institutions, many of whom estimate that Brazil’s GDP will grow less than 1% in 2023.

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