The Minister of the Economy of Brazil assured that the country would experience a growth of 1.5% in 2019

Brazil will grow 1.5% this year. So he guaranteed them Paulo GuedesMinister of Economy to Parliamentarians of the Mixed Budget Committee. MPs and Senators had called before less optimistic forecasts that were reporting an increase in gross domestic product not exceeding 0.5%. Data are important for Argentina because could imply an increase in exports to the Brazilian territory.

However, the official was very moderate in the estimates since at the beginning of the year, they had anticipated a rise of 2.5%, and now the official projections have adapted to a lesser point. Minister stressed to legislators that the solution to accelerate the resumption of production should only be Congress accelerates approval of pension reform.

According to Guedes, it will be necessary to obtain a credit of 60 000 million dollars on the financial market for the payment of retirement and social plans (the "family bag"). To obtain these resources, the Minister must have the approval of Parliament, because the search for market credits can only be made for investment purposes and not to cover current expenses.

This morning, before the Guedes exhibition in Congress, the minutes of the Monetary Policy Committee meeting were known, where some ministries and the Central Bank are acting. It mentions that "uncertainties of a geopolitical nature can have a negative impact on the Brazilian economic growth". He was referring to the trade dispute between the United States and China, which has intensified in recent days.

The Brazilian central bank, however, said that his country was perfectly capable of "absorbing the problems of the international scenario". They pointed out, in this sense, the voluminous reserves in international currencies, which are housed in the coffers of the institution and are of the order of 370 000 million dollars. This allows the country to maintain a very low inflation rate, depending on the entity.

The director of international affairs of the Brazilian Central Bank said that there would be a recovery in the economy compared with the first quarter of the year. Tiago Berriel thus admitted the reality of the first three months of the president's government Jair Bolsonaro. "We are at the brink of a fiscal chasm, we will need additional funds to pay social expenses," he said. It was at a meeting in London with financiers. In total, Berriel highlighted Brazil's institutional strength in the economic zone "with (achievable) inflation targets, reform flexibility, and intensive banking supervision."