FGV holds seminar with eye on future of economy

Armando Castelar, FGV IBRE’s coordinator of applied economics; Silvia Matos, the coordinator of IBRE’s Macro Bulletin; and José Júlio Senna, the head of FGV IBRE’s Monetary Study Center, will analyze the present situation and macroeconomic statistics. The event’s moderator will be O Estado de S. Paulo columnist Adriana Fernandes.
Economics
23 September 2020
FGV holds seminar with eye on future of economy

According to figures recently released by FGV IBGE, Brazil’s second-quarter GDP fell less than the markets expected. Confidence indicators have been recovering and there are other signs that the worst moment for the Brazilian economy is in the past. The IMF has revealed less pessimistic GDP forecasts for Brazil and other countries. However, how will the economy react in the coming months and next year? Specialists at the Brazilian Institute of Economics (FGV IBRE) will try to provide an overview of the economy at the Third Brazilian Prospects Seminar. The event will take place on September 28, from 10 am to 11:30 am, and it will be broadcast live on FGV’s YouTube and LinkedIn channels.

Armando Castelar, FGV IBRE’s coordinator of applied economics; Silvia Matos, the coordinator of IBRE’s Macro Bulletin; and José Júlio Senna, the head of FGV IBRE’s Monetary Study Center, will analyze the present situation and macroeconomic statistics. The event’s moderator will be O Estado de S. Paulo columnist Adriana Fernandes.

In response to good news on COVID-19 – declining numbers of deaths and infections, as well as new treatments – state governments have been loosening their social distancing restrictions and more activities have been resuming. However, doubts remain about whether these numbers will continue to fall and a possible second wave.

The experts will also analyze other factors in Brazil, which add to the uncertainty about health. In particular, the government injected billions per month into the economy through fiscal stimulus, stopping GBP from falling even more, but it is unable to maintain this level of stimulus. In turn, the benchmark Selic interest rate is at an all-time low of 2% and the Central Bank kept the rate at this level at its last meeting. There are also doubts about how to curb the fiscal deficit while stimulating the economy.

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