In a statement about the GDP performance, which rose 2.9%
last year compared to 5% in 2021, SPE said that the country's
high benchmark interest rate worsens the conditions of both bank
and non-bank credit, posing a risk to activity this year by
making it difficult for companies to roll over debt.
(Reporting by Marcela Ayres; Editing by Steven Grattan)
BRASILIA, March 2 (Reuters) - Brazil's Secretariat of
Economic Policy (SPE) said on Thursday that the sharp 2022
economic slowdown is mainly due to reduced liquidity in the
external environment and the contractionary cycle of monetary
policy in the country.
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