Data from government statistics agency IBGE showed that from July to September services and industry grew by 0.6% each, while the agricultural sector contracted by 3.3% from the second quarter.
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This Monday (3), the Brazilian Central Bank released the financial market’s new growth estimate for the country’s GDP, 2.19% for 2023. Last week’s projection was at 2.18%.
MENA economies are expected to grow by 2.2% this year, the World Bank said. The institution forecasted the highest growths for Djibouti, Egypt and Qatar but a slowdown for Syria, Iraq, Lebanon and Yemen.
The country’s economy grew last year compared to 2021, mainly driven by services and industry. Agriculture was down.
After a mission to the country, International Monetary Fund staff assessed the Lebanese economic situation and pointed out actions that could bring an upturn.
The International Monetary Fund has raised its growth forecast for Brazil to 1.7%. The previous report had been made public last April.
Saudi Arabia’s National Transport and Logistics Strategy aims to increase the contribution of the transport and logistics sector to 10% of the GDP, up from its current rate of 6%.
The country wants to raise industry contribution to its GDP from 12.8% in 2019 to 14.5% by 2026.
The Gross Domestic Product of non-oil activities grew 5.7% in the first quarter of 2021. In the same period, total GDP fell.
The World Bank projects that the country’s economy will contract further, on the back of a 20.3% contraction in 2020.
An index from the Brazilian Central Bank shows activity picking up in January 2021 from December 2020 and slowing down year-on-year in January.
The prediction went from 2% last April to 3.5%. However, performance is still under the impact of the pandemic, which has led to job losses in fields including retail and wholesale, manufacturing, tourism, transportation and construction.
Brazil’s GDP shrank in H1 from the prior quarter. Agribusiness was the only sector that grew.
The country’s budget announced this Monday predicts a revenue of USD 222 billion and a deficit of USD 50 billion.
