Banks estimate that the Brazilian economy will grow by 2.92% in 2023. This is the fifth week in a row of upward revisions.
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The international financial institution raised its forecast for Brazil’s economic growth in 2023. The estimate for the global economy was also raised.
Brazil’s GDP grew over the previous quarter in the first three months of this year, driven by increased soybean production.
The IMF improved Brazilian growth forecasts in its report published on Tuesday (31). Brazil and Mexico drove up the projections for Latin America and the Caribbean.
Brazil’s economy grew slightly from the second quarter, but it expanded 3.6% from a year earlier.
Paulo Guedes told a group of worldwide dignitaries in Washington about Brazil’s economic recovery.
The Ministry of Economy increased the forecast for Brazilian GDP growth in 2022, from 2% in the July estimate to 2.7%.
Brazil’s Gross Domestic Product increased from April to June compared to the first three months of the year, mainly driven by the services sector. In the first half, the country grew by 2.5%.
The Brazilian Ministry of Economy revised the growth estimate for the country to 2% in 2022. The previous projection was 1.5%.
The national institution increased its estimate for Brazilian GDP growth in 2022, which in March was at 1%. Household consumption and investment in production could be some of the main boosters.
Official figures show Brazil’s GDP grew by 1% in the first three months of 2022 over the previous quarter and 1.7% compared to the same period in 2021.
According to a Central Bank indicator, the economy picked up in Q1 2021 from Q4 2020.
The Ministry of Economy said this Wednesday (17) that it is sticking by its 2021 GDP growth forecast. Whole-year inflation expectation was revised up on the back of food prices.
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.
