LatinNews Daily - 23 November 2022

In brief: OECD revises up growth forecast for Brazil

*The Organisation for Economic Co-operation and Development (OECD) has updated its 2022 growth projection for Brazil to 2.8% up from 0.6% in its previous (June) forecast. In the latest volume of its Economic Outlook report, the OECD says that “household consumption, private investment and exports will remain the main drivers of growth.”  It says that household spending “is buoyed by higher social transfers and vigorous employment growth but will ease next year.” The OECD expects Brazil’s GDP growth to slow to 1.2% in 2023 and 1.4% in 2024, due to “a deteriorating global outlook, tighter fiscal policy and the effects of higher interest rates”.

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