Brazil recovers despite international turmoil, says minister

Brazil recovers despite international turmoil, says minister

While several advanced economies suffer from the threat of recession, Brazil is recovering, said today (13) the Minister of Economy, Paulo Guedes. During an event to commemorate the 25th anniversary of the General Telecommunications Law (LGT), the minister said that financial institutions have revised upwards the projections of the Brazilian Gross Domestic Product (GDP, sum of goods and services produced in the country).

“The country will spend the year revising upwards the forecasts [de crescimento do PIB]. This is the opposite of what happens in countries abroad, which are reviewing projections downwards”, declared Guedes.

Tomorrow (14), the Ministry of Economy will release the revisions of official estimates for the economy in 2022. The last version of the document predicted growth of 1.5% for this year’s GDP. According to the most recent edition of the Focus bulletin, a market research carried out by the Central Bank (BC) with financial institutions, market analysts believe in an expansion of 1.59%. The high estimate is for two consecutive weeks, according to the BC publication.

As in recent events, Guedes reiterated that Brazil could consolidate itself as an energy and food production power, at a time when the world “may go through a war on a global scale”. According to the minister, there are analysts who highlight the possibility of recession in the United States and an even more serious situation in Europe, with war and energy crisis.

5G expansion

The event commemorating the 25th anniversary of the General Telecommunications Law took place at the Ministry of Communications. According to Minister Fábio Faria, the success of the 5G auction, held at the end of last year, and the start of technology operations, which began operating in Brasília last week, are a consequence of the changes in the telecommunications system that took place two decades ago. .

For the Minister of Communications, the evolution from 1G to 5G is a sign that Brazil can be a source of innovation. This is because, in his words, the new technology will create more demands and opportunities for the economy, resulting in job creation.

Also participating in the ceremony were the Minister of the Civil House, Ciro Nogueira, and the president of Caixa Econômica Federal, Daniella Marques.Brazil recovers despite international turmoil, says minister

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