Brazil's unemployment rate will be 8% before the year ends, minister says

BY Reuters | ECONOMIC | 08/09/22 09:02 PM EDT

BRASILIA, Aug 9 (Reuters) - Brazil Economy Minister Paulo Guedes said on Tuesday the country's unemployment rate will be 8% before the year ends and that economic growth will exceed analysts' forecasts.

"Before the year ends, we are going down to 8% ... we are going to end the year with the lowest unemployment rate we have seen in the last 10 or 15 years," he said.

Brazil's unemployment rate in the three months through June, stood at 9.3%, the lowest level for the period since 2015.

Speaking at an event, Guedes said the country is at the beginning of a long growth cycle, in contrast with advanced economies facing possible recession and with neighboring countries such as Argentina, Ecuador and Bolivia, which are "falling apart." (Reporting by Isabel Versiani)

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