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Guedes With Industry Representatives, Bolsonaro Sees 2023 Deflation

BRAZIL
  • Economy Minister Paulo Guedes has a lunch meeting with industry representatives, including Aco Brasil Institute President Marco Polo de Mello Lopes. The meeting is scheduled for 1pm Brasilia time, according to Minister’s official agenda.
  • As had widely been reported – The economy ministry raised Brazil’s 2022 GDP estimate to 2% in the macro-fiscal report for July.
    • Govt keeps 2023 GDP growth estimate at 2.5%
    • 2022 CPI estimate cut to 7.2% from 7.9%
    • 2023 CPI estimate raised to 4.5% from 3.6%
  • Brazil may have deflation in 2023, country’s President Jair Bolsonaro said this Thursday during a ceremony to enact a bill that boost social aid.
    • Bolsonaro said that the law that establishes a ceiling for ICMS tax on fuels and energy will impact in country’s inflation and may cause a deflation.
    • Bolsonaro also said that Brazil has fertilizer guarantee until the middle of next year.

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