The forecast for the country’s GDP in 2022 was kept at 0.3 percent. Four weeks ago, the market had reported an estimated expansion in the Brazilian economy of 0.36 percent.
The day was also intense in the stock market. B3’s Ibovespa index closed out the day with a score of 110,124, down 3.05 percent. This was the sharpest daily decline since September 8, when the indicator had shrank by 3.78 percent.
After today’s decline, the US currency wrapped up March up only 0.5 percent, even though it neared R$5.80 on March 9.
For 2022, the estimated inflation is 3.51 percent. For both 2023 and 2024, predictions stand at 3.25 percent. The projection for 2021 is above the center of the Central Bank’s inflation target.
The dollar was estimated to close out the year at R$5.22. The financial market is also reported to have lowered the projected retraction of the economy from 4.5 to 4.4 percent.