Key View

• We forecast real household spending in Brazil to post growth of 4.0% in 2022, an improvement from the 2.8% growth in household spending estimated over 2021 and the 5.7% contraction recorded in 2020.
• We forecast that a full consumer spending recovery will take place in 2022. Brazil's vaccination drive has been quicker compared to most

Key View

• We at Fitch Solutions now forecast Brazil's end-2021 benchmark interest rate forecast at 9.25%, from our prior forecast of 8.00%, in response to accelerating inflationary pressures and deteriorating investor sentiment triggered by political volatility.
• While we expect the benchmark rate will rise further in H122, our core view is for

Key view

• We expect that Brazil will see steady growth in its iron ore production in the coming years, underpinned by Vale’s plans to ramp up supply despite the recent fall in prices.
• Into 2022, Vale will see a continued production recovery on the back of its solid pipeline of projects, expertise in Brazil’s mining sector, and the low cost of

Key View:

• We at Fitch Solutions forecast Brazil’s current account deficit to narrow significantly in 2021 driven by a strong rebound in goods and services exports. With exports having outpaced our expectations in the year-to-date, we have revised our forecast to a deficit of 0.1% of GDP from 0.7% previously.
• The current account deficit will

The Latest: On September 22, the Banco Central do Brasil (BCB) raised its benchmark Selic target rate by 100bps to 5.25%. This followed a 100bp hike in August, and was the was the fifth consecutive hike this year. At Fitch Solutions, we forecast an additional 175bps of hikes by the end of the year, bringing the Selic to 8.00%.

Key View

• New legislation in Brazil that reduces the complexity and length of patent applications may pose challenges for innovative drugmakers.
• The Ministry of Economy is looking to improve drug pricing regulations for innovative drugs through the new proposals.
• Macroeconomic headwinds will persist in Brazil, posing downsides to investments

Key View

• We have revised up our forecasts for Brazil's wind and solar power sectors, with the non-hydro renewables sector set to continue its growth outperformance in the market.
• Power auctions and an uptick in PPAs support our more positive outlook on renewables sector growth.
• Robust growth in small-scale distributed solar power generation

Key View

• The weakening of the Brazilian real through 2020 lowers both previously estimated 2020 market size and future growth.
• Consumables will outperform the market, while low dental products and patient aids will go against macroeconomic trends.
• The new forecast will face mounting downsides risks from Covid-19 variants prevalent within

Key View

• The weakening of Brazilian Real through 2020 lowers both previously estimated 2020 market size and future growth.
• Consumables will outperform the market, while low dental products and patient aids will go against macroeconomic trends.
• The new forecast will face mounting downsides risks from Covid-19 variants prevalent within Latin