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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Brazil’s GDP grew over the previous quarter in the first three months of this year, driven by increased soybean production.
The country’s economy grew last year compared to 2021, mainly driven by services and industry. Agriculture was down.
The International Monetary Fund has raised its growth forecast for Brazil to 1.7%. The previous report had been made public last April.
