Brazil's GDP up 2.9%, beats expectations

By Associated Press

Mar 04, 2024 12:29 am

SAO PAULO: Brazil's economy grew by 2.9 percent in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva, according to the government statistics institute Friday.

The number announced by IBGE impressed many economists, whose overall forecast early last year was for only 0.8 percent growth in 2023.

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