SAO PAULO (AP) — Brazil’s economy grew 2.9% in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva. The number announced Friday by the country’s statistics institute impressed many economists. Early last year, the forecast was for only 0.8% growth. Brazil’s economy grew 3% in 2022, partly due to government spending programs pushed by then-President Jair Bolsonaro amid his failed reelection bi…

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Brazil's economy grows 2.9% in Lula's 1st year, beating expectations

Brazil’s economy grew 2.9% in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva

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SAO PAULO (AP) — Brazil’s economy grew 2.9% in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva, according to the government […]

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SAO PAULO (AP) — Brazil’s economy grew 2.9% in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva, according to the government statistics institute Friday. The number announced by IBGE impressed many economists, whose overall forecaste early last year was for only 0.8% growth in 2023. Brazil’s economy grew 3% in 2022, partly due to government spending programs pushed by then-President Jair B…

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Brazil’s economy grows 2.9% in Lula’s 1st year, beating expectations

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Lula has said in public forums he wants to push the number above 3 percent this year by drawing more foreign investment to Brazil.

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Brazil's economy grows 2.9 percent in Lula's 1st year, beating expectations

Nel 2023 l’economia brasiliana è cresciuta del 2,9 per cento, superando molte previsioni

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In 2023, the Brazilian economy grew by 2.9 percent, exceeding many forecasts

According to a report released Friday by Brazil’s Institute of Geography and Statistics (IBGE), the gross domestic product (GDP) in South America's largest country grew by 2.9% in 2023 driven by a record 15.1% expansion in the agricultural sector. It was the most significant leap since the beginning of the series in 1995. Industry (1.6%) and services (2.4%) also saw an improvement.

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The credit rating agency Austin Ratings says Brazil's economy is now the ninth biggest in the world. The government said after the results that it expects 2024 growth to be at 2.2%. Lula has said in public forums he wants to push the number above 3% this year.

Brazil's economy grows 2.9% in Lula's 1st year, beating expectations

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