Government highlights GDP recovery to pre-pandemic levels

The Ministry of Economy said this Friday (4) that the country has recovered the level of activity observed before the Covid-19 pandemic, showing a resumption in V. adverse international.

Earlier, the IBGE (Brazilian Institute of Geography and Statistics) reported that the Brazilian GDP (Gross Domestic Product) grew 4.6% in 2021, after a 3.9% drop caused by the pandemic in 2020.

“The data confirm the recovery in V as constantly warned by minister Paulo Guedes [Economia]. This shows, once again, the success of our economic policy in this period,” said Adolfo Sachsida, head of the Ministry’s Special Advisory for Strategic Affairs.

The ministry celebrated the result even though it was below the official forecast made by the government, which was 5.1%. The ministry calculates that the two-year accumulated GDP is the second largest in the G7, second only to the United States.

The result generates a statistical load of 0.3% for 2022 GDP, according to the ministry. In addition, the ministry considers that there are positive factors for 2022 – such as the continuity of the resumption of the labor market.

Despite this, the ministry states that it is necessary to monitor the evolution of the international scenario due to the war in Ukraine. In two weeks, the ministry will release its new projections for 2022 (today, growth of 2.1% is expected for this year)

The Secretariat for Economic Policy says that, with the adverse international scenario, it is up to Brazil to show that it is a safe haven for private investments. To this end, it defends maintaining the reform agenda and strengthening the capital and credit market.

“We want to show the world that we are aligned with international democracies and that Brazil is a safe haven for investment at this time,” said Sachsida.

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