GDP is expected to grow by 1.7% in 2023, says the OECD

BRASÍLIA, 07 JUN – The growth projection of the Brazilian gross domestic product (GDP) increased from 1% to 1.7% in 2023, according to a report published this Wednesday (7) by the Organization for Cooperation and Development economic (OECD).

Despite the improvement, the forecast is still below the expected growth in other developing countries such as Mexico (2.6%), Turkey (3.6%) and Indonesia (4.7%), according to Jens Arnold, OECD report manager on Brazil.

The OECD revision coincides with the calculations of the Brazilian market, which changed its GDP growth expectation from 1.26% to 1.68% this week.

These changes came after the IBGE released last week that GDP had an unexpected 1.9% increase in the first quarter, due to the strong expansion of agriculture, which was 26%.

However, the expected growth for 2023 indicates a slowdown compared to 2022, when GDP grew by 2.9%.

The OECD also released its Brazilian growth forecast for 2024, with a slight improvement from 1.1% to 1.2%. .

Source: Terra

Rose

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