Brazil’s main banks and financial institutions raised their growth forecasts for the local economy for this year compared to last week’s forecasts, according to a report released by the Central Bank.
“The forecast for growth of the gross domestic product in 2023 went from 2.31% to 2.56%. For 2024, the forecast fell from 1.33% to 1.32%, while for 2025 it remained stable at 1.90%,” according to this weekly report.
The forecast for inflation also rose slightly, from 4.90% last week to 4.92%; for 2024, it rose from 3.87% to 3.88%; and for 2025, it remained at 3.50%.
The upward revision for the economic growth forecasts comes after it was known last week that Brazil’s GDP in the second quarter (April to June) grew by 0.9%.
The percentage surprised most analysts, who expected a more discreet growth of 0.3%, and led the government to reinforce its optimism and ensure that by the end of the year the country will have grown by 3%.
