São Paulo – Brazil is forecast to grow 1.2% in 2023 and 1.5% in 2024, according to the World Economic Outlook report, published on Tuesday (31). The projection is 0.2 percentage points above the previous October report, while the forecast for 2024 saw a downward revision of 0.4 percentage points. In 2022 Brazil’s economy grew 3.1% in 2022.
IMF sees Latin American and Caribbean GDB growing 1.8% this year, compared with the 1.7% projected in October. For 2024, IMF sees the region as a whole growing by 2.1%, although it cut its October forecast by 0.3 percentage points.
The 2023 forecast revision reflects upgrades for Brazil and Mexico due to unexpected domestic demand resilience, higher-than-expected growth in major trading partner economies, and in Brazil, greater-than-expected fiscal support.
Translated by Guilherme Miranda
