Guedes says that Brazil was ‘taking off’, but ‘anticipation of elections’ hindered

Paulo Guedes and Jair Bolsonaro.  Photo: Mauro Pimentel/AFP

Paulo Guedes and Jair Bolsonaro. Photo: Mauro Pimentel/AFP

The Minister of Economy, Paulo Guedes, again complained on Monday 23 of the ‘anticipation’ of the electoral climate of 2022. He participated in the 41st International Congress on Intellectual Property.

“We were really taking off and now there is a kind of anticipation of the elections, which obviously has an impact on expectations. This anticipation naturally hurts. It causes a lot of noise”, said the minister.

According to Guedes, “we have to moderate the excesses to ensure the Brazilian economic recovery”. He also ignored the acceleration of the IPCA, which increased to 0.96% in July and, in the 12-month accumulated, reached 8.99%.

“In fact, the fundamentals continue to indicate that we are in the right direction. We went to 10.5% of the GDP deficit, this year we have already dropped to 1% and the forecast is that next year it will be 0.3%. The deficit has practically ended”, he declared.

Guedes’ statements come amidst the fall of President Jair Bolsonaro in the voting intention polls and the growth of former President Lula. On August 17, an XP/Ipespe survey showed that, in the main scenario of the 2nd round, Lula extended his advantage over Bolsonaro. The PT member registers 51%, compared to 32% of the current occupant of the Planalto Palace.

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