Paulo Guedes says Brazil is ‘flying’ and calculates ‘monetary wind’ in favor in 2023

Paulo Guedes says Brazil is ‘flying’ and calculates ‘monetary wind’ in favor in 2023
Paulo Guedes says Brazil is ‘flying’ and calculates ‘monetary wind’ in favor in 2023

Minister projected growth of Brazilian Gross Domestic Product above the main global economies and highlighted the resumption of the sector after the end of the restrictive measures of Covid-19

Isac Nóbrega/PR – 05/06/2019Paulo Guedes is the current Minister of Economy of the Bolsonaro government.

The Minister of Economy, Paulo Guedes, participated this Thursday, 1st, in the 10th edition of the Entrepreneur’s Fair, in Rio de Janeiro, and took the opportunity to speak during the opening ceremony of the event. On the spot, the government official Jair Bolsonaro celebrated the release of the result of the Gross Domestic Product (GDP) in the 2nd quarter, with a positive variation of 1.2% in the period, projected an economic growth above the main world economies and stressed that the performance was only possible after the government changed the ‘axis’ of the Brazilian economy to the private sector. “The great force, which is being released in Brazil, with tax reduction, simplification, improvement in the business environment, is private investment. We already have R$ 900 billion in private investment over the next 10 years. And now comes the investments in renewable energy and food security. If you take the G7 and take the China, Brazil is growing faster than all of them. USA and Europe including going into recession and China with the possibility of recession. And all of them with rising inflation and ours falling. Brazilian inflation should be lower than the US and Europe. It’s already nine straight months of downward revision. Meanwhile, in the US, inflation is already being revised upwards”, pointed out the minister to businessmen there. Guedes again declared that Brazil is “doomed” to grow for the next 10 years and explained that, in addition to the investments already contracted, the Central Bank has the ‘handbrake on’ to fight inflation and in the following years the agency will to blow favorable “monetary winds” to growth. “Country would be growing 3.5% or 4% if it weren’t for [a alta nos] fees. There is no reason for pessimism, quite the opposite,” she concluded.

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