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LatinNews Daily - 16 December 2022
In brief: Brazil’s central bank raises GDP forecast for 2022
* Brazil’s central bank (BCB) has raised its GDP growth forecast for this year to 2.9%, up from a previous prediction of 2.7% in its September forecast. The BCB then expects GDP growth to slow to 1.0% in 2023, although it noted in a report that “domestic and external uncertainties remain high, meaning that growth forecasts for Brazil, especially for 2023, are more uncertain than usual.” The BCB highlighted a lack of clarity over the size of domestic fiscal packages in 2023, global economic uncertainty caused by the war in Ukraine and continued coronavirus (Covid-19) lockdowns in China, and “the resulting tightening of monetary policy in several key countries”.
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