The economic activity of Brazil It grew by 2.9% in 2022, with which it suffered a sharp slowdown compared to 2021, when it expanded by 4.68%, reported Thursday the central bank.
The call Economic Activity Index (IBC-Br), which the monetary authority measures monthly in an attempt to anticipate the trend of the gross domestic product (GDP), registered its second annual growth in 2022 after the 4.2% drop it suffered in 2020 as a result of the crisis generated by the covid pandemic.
The result of the indicator known as the “GDP preview” confirms analysts’ forecasts that the brazilian economy slowed down last year and that this trend will become even more pronounced in 2023.
Brazil It is the largest Latin American economy
According to official data, the Gross Domestic Product (GDP) of the largest Latin American economy suffered a decline of 3.3% in 2020 due to the pandemic and registered a record jump of 5.0% in 2021 thanks to the resumption of activities.
The forecast of economists is that growth slows further this year, by which time only an expansion of 0.76% is expected.
The official result of GDP in 2022 will be released on March 2 by the Brazilian Institute of Geography and Statistics (IBGE).
The slowdown of the brazilian economy last year is attributed to inflation and the country’s high interest rates, which have become the target of constant criticism from the president Luiz Inacio Lula da Silvawho assumed his third term in January, and of discrepancies between the progressive leader and the monetary authority.
According to data released this Thursday by the Central Bank, despite the slowdown in 2022, the economic activity of Brazil it grew 0.29% in December compared to November, well above economists’ forecasts (0.10%).
However, the indicator accumulated a retraction of 1.46% in the last quarter of last year compared to the third. Compared to the same period in 2021, the economic activity of Brazil it grew by 2.05% in the period between October and December 2022.
