S&P revises Brazil outlook to positive

S&P said it changed its outlook for Brazil to positive from stable and affirmed the BB- sovereign rating.

“The positive outlook reflects signs of greater certainty about stable fiscal and monetary policy that could benefit Brazil's still-low GDP growth prospects. Continued GDP growth plus the emerging framework for fiscal policy could result in a smaller government debt burden than expected, which could support monetary flexibility and sustain the country's net external position.

“Such developments would reinforce our view of the resilience of Brazil's institutional framework, with stable policymaking based on extensive checks and balances across the executive, legislative, and judicial branches of government,” S&P said in a statement.

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