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Economy Ministry Upgrades 2022 Trade View

BRAZIL
  • Late on Friday, the Brazilian economy ministry upgraded their assessment of 2022 exports after a record-breaking June month of trade. The Economy Ministry now sees exports of nearly $350bln across 2022.
  • In local press, Folha de S. Paulo write that Bolsonaro’s election campaign is fearing a high abstention rate in October’s elections, which should see a record number of leadership debates, but all are expected to see Lula and Bolsonaro escape scrutiny.
  • Sao Paulo June CPI data (the FIPE CPI gauge) released this morning came in just ahead of expectations, with prices rising by 0.28% on the month vs. Exp. 0.21%.
  • Valor International writes that the Brazilian economy is continuing to defy expectations, meaning that the expected economic contraction could be delayed. The pieces writes that the strong recovery in the labour market and the forecast of further fiscal stimuli by the government, projections of GDP contraction at the margin have been pushed from the third quarter to the fourth quarter or even to 2023.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Markets News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Markets News

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