Brazilian govt downgrades 2021 GDP expansion forecast to 5.1%


Rio De Janeiro, Nov 18 : The Brazilian government lowered its forecast for economic expansion this year to 5.1 from 5.3 per cent, while raising its inflation forecast to 9.7 from 7.9 per cent. The Secretariat of Economic Policy at the Ministry of Economy said in a report that the lower gross domestic product (GDP) growth forecast and the inflation hike were the result of a worsening international situation, due in part to the energy crisis affecting some European countries and the breakdown of production chains that are affecting demand and production. For 2022, the government also lowered economic growth projections from 2.5 to 2.1 per cent, while estimated inflation went from 3.75 to 4.7 per cent, Xinhua news agency reported. "The strength of the labor market recovery is sufficient to guarantee growth above 2 per cent (for both 2021 and 2022)," the Brazilian government said on Wednesday. "With the recovery of informal employment, we expect the participation rate and the level of employment to return to historical levels and help the country grow at the projected rate," it added. According to financial market projections, Brazil's GDP will grow 4.88 per cent in 2021 and 0.93 per cent in 2022, while inflation rate will be 9.77 per cent in 2021 and 4.79 per cent in 2022. /IANS


2021 one of the seven warmest years on record: WMO
Geneva, Jan 19 : Although average global temperatures were temporarily cooled by the 2020-2022 La Nina events, 2021 was still one of the seven warmest

Do not seek revenge on previous officials: Sarajudin Haqqani to Taliban commanders
New Delhi, Jan 19 : Sarajudin Haqqani, who is the acting interior minister of Afghanistan, has ordered the Taliban commanders in Kabul to not seek rev

Elon Musk slams UN, warns about population collapse
San Francisco, Jan 19 : Tesla and SpaceX CEO Elon Musk has slammed the United Nations (UN) once again, saying that there are "not enough people" in th