Finance Minister Haddad said the GDP could close 2023 with slightly higher growth than the 3% projection published at the end of November by the Ministry of Finance. However, he said the result depends on the Central Bank continue to cut interest rates.
Finance Minister Fernando Haddad gave a speech in Marrakech, at an event held on the sidelines of the annual meeting of the IMF and the World Bank. Reforming multilateral banks and ecology will also be among the priorities.
Brazil’s gross domestic product stood at BRL 2.651 tri in the second quarter this year. Against the second quarter last year, the economy grew 3.4%. In the last 12 months, the GDP rose 3.2%.
With an 8.33% hike, gasoline was the sharpest impact on the index for March and weighed heavy on transportation. Ethanol surged 3.20%. Year to date, inflation was up 2.09%.
The rate is up 0.5 percentage points from the quarter ended in Nov. 2022, when it stood at 8.1%, but a 2.6 percentage-point slip was seen from the quarter ended in Feb. 2022 (11.2%).
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