October 19, 2021

HQPrinceGeorge.com

Complete News World

Brazilian government raises inflation forecast for 2021 – Brenza Latina

According to the Macro Fiscal Bulletin of the Secretariat for Economic Policy, inflation is projected at 3.75 percent by 2022, well above the official target of 3.5 percent.

Such figures will be the place to arrange the draft calculations for 2022 of the budget sent by the government to parliament in August.

It is expected to be approved by the end of the year after discussion at the event.

Due to rising prices, the estimated margin in next year’s spending and revenue forecasts should be reduced due to the restructuring of the minimum wage and the schedule of state spending.

In the 2022 budget there was more room for management to increase the level of social assistance from the Bolsa Familia resource transfer program, convert it to Axilio Brazil, increase the value of grants and the number of beneficiaries.

In terms of gross domestic product (GDP), the bulletin maintained its growth forecast of 5.3 percent by the end of 2021.

In the same way, he praised the thinking behind the contraction of Brazilian GDP, an indicator of a 4.1 percent decline in 2020.

This was seen in the recovery services sector, which was hit hard by declining demand in the last calendar due to the Govt-19 epidemic.

The government’s outlook for GDP growth for 2022 was 2.51 to 2.5 percent.

msm / ocs

See also  The "zombie frog", a species found on the Amazon, only comes to the surface when it rains