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Brazil's Guedes predicts monetary easing by mid 2023, GDP rising 3%

Published 12/15/2022, 01:38 PM
Updated 12/15/2022, 01:41 PM
© Reuters. Brazil's Economy Minister Paulo Guedes speaks during the launch ceremony of a government panel to monitor investments, in Brasilia, Brazil, May 9, 2022. REUTERS/Adriano Machado/File Photo

© Reuters. Brazil's Economy Minister Paulo Guedes speaks during the launch ceremony of a government panel to monitor investments, in Brasilia, Brazil, May 9, 2022. REUTERS/Adriano Machado/File Photo

BRASILIA (Reuters) - Brazil's Economy Minister Paulo Guedes projected on Thursday interest rates would start to fall by mid-2023 and the economy would expand by 3% again.

Speaking at an event hosted by the Institute for Applied Economic Research (IPEA), he stated the country is living through a long growth cycle after reforms implemented by outgoing President Jair Bolsonaro. Still, "poor quality policies" may end it, he added.

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