Brazil’s gross domestic product rose 0.1% in the third quarter compared to the previous three months and 1.8% year-on-year, reaching USD 602 billion.
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The projected growth represents a slowdown compared to last year, when the country expanded by 6.3%. Prospects, however, remain positive, according to the IMF.
The Brazilian economy grew in the first quarter of the year but rose more—2.2%—compared to the second quarter of 2024, according to official IBGE data.
An IMF analysis indicates a decline in oil GDP, but domestic consumption and government projects will sustain growth in other sectors and the country as a whole.
The GDP of the Arab country grew less in 2024 but is expected to advance this year based on the performance of the oil sector. Public spending also supports part of Libya’s economy.
The year-on-year growth was driven by the non-oil sector of the economy.
Brazil’s economy saw 1.4% growth in the first quarter of the year compared to the last quarter of 2024, fueled by agriculture, which was up 12.2%.
An International Monetary Fund report highlights the Gulf Cooperation Council nations’ strategies to increase the digital sector’s share of GDP and make it dominant in government services.
Brazil’s gross domestic product saw its largest growth since 2021. The expansion of industry, construction, and household consumption were some of the key drivers. As unemployment reached the lowest unemployment, Brazilians increased their spending.
A report released by the International Monetary Fund on Tuesday (11) presents a projection of growth for the economy of the Arab country, mainly based on public investments, strong tourism, and the increase in natural gas production.
The outlook for this year points to expansion with controlled inflation, even amid rising domestic demand in the North African country.
Projection is included in the budget approved by the Senate. Exports and imports are also expected to grow this year compared to 2024.
Estimates from the National Bank of Kuwait indicate expansion of the country’s non-oil GDP.
The countries that make up the BRICS house more than 40% of the global population and account for over a third of the world economy. With a reformist agenda for the international order, the group works to increase its global influence.
