Brazil's Inflation to End 2022 Within Target, says Guedes

Brazilian Economy Minister Paulo Guedes on Friday outlined a rosier outlook for Latin America's largest economy in 2022, predicting a "robust" GDP growth and inflation meeting its target, Reuters reported. "I have a constructive and positive view that we're going to post a robust growth next year," he said. Market participants see GDP growth at mere 1.93%, according to a central bank survey released last week. In an event hosted by Credit Suisse, Guedes said inflation is likely to be at 5% next year, the upper part of a range. This year he said it should be at between 7.5% and 8%, adding he thinks price adjustments will decelerate by year-end. Guedes said the government is likely to resume negotiations about court-ordered debts on Monday, an issue which threaten to blow a hole in 2022's budget. He said President Jair Bolsonaro's decision to publish an open letter on Thursday seeking to smooth over his tussle with the Supreme Court will ease negotiations with the top court about legally mandated debts. Read more.
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