LatinNews Daily - 20 March 2023

In brief: Brazil lowers growth forecast

* The secretariat of economic policy (SPE) in Brazil’s finance ministry has lowered its growth forecast for 2023 from 2.1% to 1.61%. Explaining the drop compared with its previous forecast in November, the SPE cited liquidity constraints in global markets and high interest rates which are limiting access to credit. It also lowered its growth forecast for 2024 from 2.5% to 2.34%. The SPE raised its inflation forecast, predicting annual inflation of 5.31% in 2023, up from 4.60% in its previous forecast and above the central bank’s target of 3.25% +/-1.5.

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