Brazil may return to the group of the world’s 10 largest economies in 2023, notes Austin Retting | Economy

Brazil can once again be a part of A group of the 10 largest economies in the world already in 2023refers to a survey conducted by Austin Retting, based on forecasts by the International Monetary Fund (IMF).

The fund’s forecasts, released in July, indicate that a The Brazilian economy grew by 2.1% this year, still not taking into account the second quarter result released by IBGE. The financial markets were expecting a lower-than-calculated growth, of just 0.3% qoq.

According to the chief economist at Austin Rating, Alex Agostini, if there are no major moves in the international economic scenario, and Brazil maintains the current pace of activity growth, the chances of the country returning to the list of the 10 largest economies in the world are great.

“Brazil needs to continue doing its part. Agree to the necessary measures, as has already happened with the new fiscal framework, [resolvendo] The economist explained that the issue of tax reform achieves the continuity of low interest rates and shows a greater balance in institutional issues, in order to restore the confidence of businessmen and investors.

The risk rating agency forecasts that Brazil will have a 2.4% advance in GDP this year – higher than the International Monetary Fund estimates.

“We are on a very strong path […] And if in fact the growth is at a higher pace than we expected [de 2,4%] And Agostini adds, “And with the rise of the real again, Brazil may occupy eighth place in 2023,” repeating that the last time the country was in this position was in 2017.

See what the ranking of the world’s 15 largest economies could look like in 2023