Brazil is not out of control, but “anticipation” of elections affects the economy

Minister of the Economy Paulo Guedes. Photo: Marcos Correa / PR

Economy Minister Paulo Guedes said on Monday (23) that Brazil was not “losing control” from an economic point of view. However, Guedes stressed that “anticipation” of the electoral dispute in 2022 undermines expectations.

“There is no basis, from a strictly economic point of view, to say that Brazil is losing control. It is exactly the opposite: Brazil has gone through the greatest fiscal crisis, the greatest depression of times modern and recovered in record time, ”he said. .

According to the minister’s assessment, the Brazilian economy “took off” in 2021, amid the resumption of the most acute phase of measures to contain the pandemic. “We were really taking off and, now, there is a kind of anticipation of the elections, which, of course, has an impact on expectations. This anticipation naturally hurts. It makes a lot of noise,” said the minister. Guedes participated in an event organized by the Brazilian Association of Industrial Property (ABPI).

He called for the moderation of political agents to ensure the recovery of the economy. “With confidence in Brazilian democracy and especially in institutions, we hope that the abuses committed on one side or the other, by specific actors, will be moderate,” said the minister. With information from Agência Brasil.

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