Guedes downplays 0.1% drop in second-quarter GDP

Minister of the Economy Paulo Guedes. Photo: Marcelo Camargo / Agência Brasil

Economy Minister Paulo Guedes downplayed the 0.1% drop in gross domestic product (GDP) during this second quarter compared to the previous quarter. For the head of the economic team, economic activity “shifted” during the “most tragic quarter of the year”.

“Today a number came out that is practically next. When the GDP drop is 0.05%, it is rounded off to 0.1%. If you gave 0.04%, it would be 0%. [recuo] minimum does not hurt, ”Guedes said at the launch of the Joint Parliamentary Front’s legislative program for a competitive Brazil.

“It was the most tragic quarter, the one where the pandemic really affected the most Brazilians, it was in April, May and June of this year, with the second wave, and it was precisely in April, May and June when emergency aid, the expansion of aid programs, ”Guedes reflected.

The Minister recalled that when he took office at the Ministry of the Economy, the primary deficit was 2% of GDP and stressed that, in his first year at the head of the economic team, he had reduced A half. “We raised it to 1% of GDP. When the pandemic hit, we went down to 10.5% of GDP. This year it is already 1.5% again. Brazil has faced a extraordinary challenge, but with our management, facing and paying the costs, and not only for future generations, there was no shortage of money for health and, at the same time, we kept the commitment to control public expenditure ” , Guedes said.

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