Brazilian economy to grow 3.5 percent in 2024

Brasilia, Dec 19 (Prensa Latina) According to data from the fourth quarter inflation report, published today, the Central Bank changed the growth projection for Brazil's Gross Domestic Product (GDP) in 2024 from 3.2 to 3.5 percent, GDP is the sum of all final goods and services produced by a country, state or city, usually in a year.

December 19, 2024
10:33

“From a supply-side perspective, the increase in the projection for GDP growth in 2024, from 3.2 to 3.5 percent, reflected a rise in the projection for the services sector, partially offset by setbacks in the estimates for agriculture and industry,” the finance company noted in its report.

This will be the highest level of progress in the national economy since 2021, the year of the Covid-19 pandemic. At that time, GDP grew 4.8 percent and in 2022 and 2023, the indicator registered three and 3.2 percent.

For 2025, the bank’s initial estimate was raised from two to 2.1 percent.

According to the monetary authority, this “slight rise in the GDP growth forecast reflects a rise in the projection for agriculture and stability in the estimates for industry and services” in the coming year.

jrr/jav/mem/ocs