Sula Costa Daily NYC

Wednesday, February 1, 2023

Tuesday, January 31, 2023

8:30 - 10:30 a.m. ET

2023 begins with a decisive and welcomed defense of democratic institutions by all relevant private and public agents in Brazil. Recent polls show overwhelming accord with the legitimacy of the government, despite a highly polarized polity. However, to maintain and consolidate political support, the new administration must deliver on its promise of sustaining growth, and this will be hard to deliver.

The economy is at the tail end of a cyclical recovery, the product in part of repeated changes in the fiscal framework in a failed attempt by the outgoing administration to win reelection. To keep commitments agreed in 2022 for 2023, the new administration sought and obtained congressional support for an additional 2-2.5% of GDP in spending, yet again over and above the constitutionally mandated expenditure ceiling. The fiscal stimulus of 2022 was financed by unexpected revenues, 80% coming from the commodity boom.

This is no longer true for 2023 and, moreover, by all estimates, the preexisting economic output gap has closed. Though delivering modest growth, at about 3% in 2022, the economy was operating beyond its full potential. Given developments abroad, the exhaustion of the post-COVID cycle, and the contractionary stance of the Central Bank of Brazil to fend off the demand-based policies of 2022, growth is expected to decelerate sharply. Meanwhile, the administration faces the challenge of fiscal consolidation in attempt to keep public expenditure and debt in a non-explosive trend.

All of this means a fertile brew for the insights of the superbly competent and articulate group of political analysts, economists, and market strategists the Chamber has gathered to examine Brazil’s economic and political outlook over the coming months.

Please join us for the 2023 installment of this timely and informative program.

Agenda and Speakers

8:30 to 9:00 a.m. - Registration, Breakfast, and Networking

9:00 to 10:30 a.m. - Panel Discussion and Q&A

Moderators

Paulo Vieira da Cunha, Partner, VERBANK Consulting, LLC

Drausio Giacomelli, Head of EM Research, Deutsche Bank Securities

Speakers

Cassiana Fernandez, Chief Economist for Brazil, JPMorgan (virtual participation)

Christopher Garman, Managing Director for the Americas, Eurasia Group (virtual participation)

Fabio Kanczuk, Financial Analyst, ASA Investments (virtual participation)

Lisa Schineller, Managing Director, S&P Global Ratings

Registration Information

Members: $50

Non-Members: $100

Location

Brazilian-American Chamber of Commerce

485 Madison Avenue, Suite 401
New York, NY 10022

Event organized by the Brazilian-American Chamber of Commerce.

JOIN THE CHAMBER

SPONSOR THIS EVENT

Join us for the BACCF 2023 Annual Feijoada

The "Feijoada" is one of the most important annual events organized by the Chamber, We are excited to thank our Board of Directors and our members for their continued contributions. This informal luncheon will be held on Saturday, February 4th from 11:30 to 3:30 in the afternoon at

Chima Steakhouse located on Las Olas Blvd. in Fort Lauderdale.

Support BACCF fund raising events by purchasing a

raffle ticket (or 2) for the amazing Parma Wood Bike

As a non-profit organization the BACCF is supported primarily by membership dues and income from fund-raising events. To support the BACCF fund-raising efforts please purchase a ticket for the PWB raffle. The Parma Wood Bike (PWB) is exclusively handmade in solid wood from the species Teak Asian (Tectona grandis), which is used in the natural sector for the manufacture of furniture and decks of yachts and sailboats. Also used in manufacturing for external areas furniture. The TeakAsian is a lightweight, durable and stable wood.

Click here for more information.