Brazil: Severe Floods Clouding What Had Been A Bright Outlook
Country Risk / Brazil / Fri 17 May, 2024
Key View
- Brazil has been hit by severe floods in recent days, with the southern state of Rio Grande do Sul experiencing its wettest May in over 60 years.
- For now, we continue to believe that Brazil can hit our 2.1% average annual GDP growth target for 2024. However, risks are increasingly skewed to the downside.
- The floods could knock upwards of 0