Finance Ministry celebrates GDP results, sees recovery in industry, and forecasts strong first quarter in 2024.
The Finance Ministry team believes that the growth recorded in 2023 could boost a similarly robust first quarter this year.
247 - Following the data released by the Brazilian Institute of Geography and Statistics (IBGE) this Friday (1), the The Brazilian economy grew by 2,9% in 2023.The result was greeted with optimism by the team at the Ministry of Finance, led by Minister Fernando Haddad (PT), who had predicted a Gross Domestic Product (GDP) of over 3% last year.
The Finance Ministry has not yet officially commented on the data released by IBGE, but internally, according to the newspaper... The GlobeThere are expectations that the growth recorded in 2023 could drive a stronger first quarter in 2024.
The positive performance of the economy throughout 2023 was driven primarily by agribusiness. A vital sector for the Brazilian economy, agribusiness recorded the best grain harvest in the country's history the previous year, contributing significantly to economic growth. Services also played an important role in the result.