The risk rating agency S&P Global reaffirmed Brazil’s foreign currency rating at BB-. The announcement was made this Tuesday night, 30. The prospect of the note from the country is stable.
“Spending pressures and a high interest burden will likely result in slow fiscal consolidation, with net general government debt trending to 75% of GDP by 2024,” says S&P, which assesses the note’s stable outlook assumes that the government will gradually stabilize its recent growth in public debt.
In the statement, the agency reinforces that Brazil recovered faster than expected from the covid-19 crisis in 2020, but that the countrys growth prospects are moderate. For 2021, the projection is for an expansion of 4.8%, followed by an increase in the Gross Domestic Product (GDP) of 0.8% in 2022, 2.0% in 2023 and 2.3% in 2024.
The S&P post affirms Brazil’s BB- rating; stable perspective – first appeared in ISTOÉ MONEY.
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