Confident in the projection that Brazil will grow 2.5% in 2022, the Minister of Economy, Paulo Guedes, said on Wednesday, 13, that the International Monetary Fund (IMF) “will make mistakes again” when estimating an advance much more shy of the Brazilian GDP next year, of just 1.5%. He attributed the “error” in the estimate to “political noise” around government measures and progress on reforms.
Guedes participated in an event promoted by the Atlantic Council, in Washington (USA). The minister is in the American capital attending meetings of the IMF and the World Bank.
Last year, the Fund even predicted a 9.1% drop in GDP due to the covid-19 pandemic, but the result was less negative (4.1% retreat), thanks to programs that guaranteed cash transfers to vulnerable people and job maintenance.
In projections for 2022, the IMF joins economists who also expect more timid growth next year. In the median of the Focus Bulletin, collected by the Central Bank, the expectation is up 1.57%. The economic team has criticized the forecasts.
“The IMF will make mistakes again, they keep doing it. The growth will be more than 2% in 2022”, said Guedes. “We are confident that we will grow twice as much as the IMF is forecasting,” added the minister at another point in his speech. For him, the “error” of the IMF is explained by the “political noise”. Guedes has constantly cited the expression in his public speeches to try to separate conflicts from concrete measures. “The losers keep screaming and we are working,” he said.
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