Haddad expects Focus projections for GDP to become more optimistic – 05/22/2023 – Market

The Minister of Finance, Fernando Haddad (PT), expects a convergence throughout the year of the GDP growth projections from the Focus bulletin with those made by the Ministry of Finance.

The document released this Monday has a projection of 1.2%, while Haddad expects an increase of 1.9%.

“Focus is becoming optimistic throughout the year”, said the minister upon arriving at the Ministry of Finance after meeting with the mayor, Arthur Lira (PP-AL). “I think we’re going to have convergence throughout the year,” he added a little later.

Projections compiled by Focus pointed to an increase of 0.96% four weeks ago. Last week, it rose to 1.02%.

Haddad also pointed out that there are institutions with more optimistic estimates than the one presented in Focus. “Bradesco’s projections are already at 1.8%. Itaú is already at 1.4%.”

The minister also stated that whoever makes the projections at the Treasury is “a technical, career team, there is no political issue”. “It has a projection system that follows the norm, it’s not new, it’s been a long time”, he continued.

Haddad also said that Lira felt excited and confident for the vote on the fiscal framework, scheduled for this week in the Chamber of Deputies.

Last week, the urgency of the project was approved by 367 votes in favor and 102 against.

Haddad is due to meet this Monday (22) with the project’s rapporteur, deputy Claudio Cajado (PP-BA), to discuss suggestions made by parliamentarians.