Estimates for an increase in global economic growth this year range from 2.1% to 2.9%
The financial market estimates growth of 1.52% for Brazil's GDP (Gross Domestic Product) in 2024. The projection is half the increase projected for 2023 – last year's result should only be released by the IBGE (Brazilian Institute of Geography and Statistics) on March 1, 2024.
Data with the prospects for the Brazilian economy are in Focus Bulletin released by B.C. (Central Bank) on Tuesday (Dec 26, 2023). The report (complete – PDF – 746 kB) is published weekly and brings economists' projections on various indicators.
O Power360 also compiled estimates from financial institutions and consultancies. The expectation is for modest growth in Brazilian GDP.
There are more pessimistic projections, such as the Fecomércio SP (up 1%), and more optimistic – such as the Ministry of Finance, which is betting on growth of 2.2%.
Here is the infographic below:
On December 5th, the minister Fernando Haddad (Farm) said expect 2.5% GDP growth of Brazil in 2024. He stated that, for this, the “Central Bank needs to do its job”.
Brazil below the world average
Estimates from the main international organizations indicate that global GDP will expand by 2.1% (Fitch Ratings) at 2.9% (IMF) in 2024. The downturn in China's real estate market and the monetary tightening in the US and Europe are some of the factors that explain the slowdown in relation to 2023.
Even so, the level tends to be higher than that of Brazil. The projections of these organizations for economic activity in the country are for an increase of 1.3% to 1.8%.
In relation to the G20 countries, a group that brings together the 19 most industrialized countries in the world plus the European Union and the African Union, at least 5 nations are expected to register higher growth than Brazil: Saudi Arabia (from 3.1% to 4.0 %), China (from 4.6% to 4.7%), South Korea (from 2.1% to 2.2%), India (from 6.0% to 6.5%) and Indonesia (from 5.0% to 5.2%).
Mexico and Turkey may also see a greater increase in economic activity than Brazil, according to projections.
Read the infographic below:
Market has been wrong for 3 years
The last projection of financial agents for the Brazilian economy was 0.8%. In practice, GDP rose almost 4 times more than expected, highlighting a market error.
For 2021, the financial market estimate was that the Brazilian economy rose 3.4%. In the end, it grew 4.8%.
Experts also bet on increase of 0.36% for GDP in 2022but the indicator advanced 3%.
Read too:
#Brazil #expected #grow #global #average
