Fiscal deterioration may pull GDP down in 2022, XP says

Despite the impasse over the 2021 budget and the disturbances in the public accounts, the current approach of the economic policy should be maintained. The brokerage house sees the country going into recession in 2022, in case the most pessimistic hypothesis comes true. While the GDP should grow 3.2% this year and 1.8% next year in the baseline scenario, in the pessimistic alternative, growth would be 2.8% in 2021, followed by a 1.1% drop in the GDP in 2022.

Source: Valor International

Pandemic causes tourism to accumulate losses of $55bn

Tourism activities have already added up to a loss of R$ 312.6 billion ($55bn) since the worsening of the new coronavirus pandemic in the country in March 2020. The sector reached March 2021 operating with approximately 45% of its monthly capacity to generate revenue, calculates the National Confederation of Trade in Goods, Services and Tourism (CNC).

Source: UOL Economia

Minerva Foods wants to zero carbon emissions by 2035

Minerva Foods, South America’s largest beef exporter, announced the goal of becoming “carbon neutral” by 2035 and will invest up to R$1.5 billion ($264 mm) in projects that help reduce emissions throughout the production chain by the announced date. The company commits to reduce the intensity of Greenhouse Gas (GHG) emissions in scopes 1 and 2 by 30% by 2030; and to maintain its energy matrix carbon neutral with 100% of energy coming from renewable sources – a goal already achieved in 2020.

Source: R7 Economia

JBS will invest $300 mm in 7 units

JBS said it will invest R$ 1.7 billion ($300 mm) by 2023 in the expansion and improvement of seven poultry, pork and prepared food units in Rio Grande do Sul to serve domestic and foreign markets. According to a note from the Rio Grande do Sul government, 35% of the investment will go to poultry plants in the municipalities of Trindade do Sul, Passo Fundo, Caxias do Sul and Nova Bassano. Another 32% will go to the pork unit in the city of Seberi.

Source: G1 Economia