1 “... relatively low. Inflation has subsided from its peak. The financial system remains sound. The outlook...”

2 “... 180,000 in the previous six months. The unemployment rate continued to fall from its October 2009 peak...”

3 “... to 3.6 percent in May 2012, from a peak of over 22 percent in April 2011...”

4 “... by 2011–2012. Economic activity declined by more than 8 percent of GDP from peak to trough (2008–2012...”

5 “... inflation has declined from its peak in 2016, but remained relatively resilient and inflation expectations...”

6 “.... Gross public debt is projected to peak in 2024 at 96 percent of gross domestic product. Brazil needs...”

7 “...Macroeconomic vulnerabilities have declined since the peak of the COVID-19 pandemic in 2020...”

8 “... balance remained in surplus but has deteriorated markedly since its 2013- peak, and the debt-to-GDP ratio...”

9 “... peaked, and the pandemic remains a source of risk...”

10 “... in 2013 as gold and oil prices declined. With those prices falling below recent peaks, the large fiscal...”

11 “... is close to precrisis peaks. Nonetheless, the economy has gone through a temporary growth dip in the last...”

12 “... rate that peaks at close to 4 percent—strikes the right balance. This policy path should serve...”