Brazil posts GDP growth above expectations in 2Q of 2024

Thursday, September 5th 2024 - 08:05 UTC

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According to a report from the Brazilian Institute of Geography and Statistics (IBGE) released this week, the Gross Domestic Product (GDP) in South America's largest country grew 1.4% in the second quarter of 2024 from the year's first trimester, far exceeding expectations, Agencia Brasil reported. The country’s total wealth amounts to R$ 2.9 trillion (nearly US$ 514 billion). The GDP represents the sum of all wealth produced in the country. Read full article

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Brasileiro
In February/2024, I stated that Brazil would grow 3% in 2024, while analysts predicted 1.7%. (lol)

If we annualize the growth of the 2Q, we could say that the country would grow 5.7% in 2024. But that's not quite the case. The federal government anticipated several expenses in the first half of the year. So, there will be less public spending in the rest of this year. And less money flowing into the economy means less stimulus for growth.

Even if Brazil didn't grow at all from now on, it would be assured of 2.8% growth in 2024.

It's easy to reach the goal I proposed in February. Therefore, I'll raise the bar to 3.8% growth in 2024.

Supimpa!
Sep 05th, 2024 - 09:44 am - Link - Report abuse -3
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Jack Bauer
Brasshole,

Believe it or not !.....only gullible ignoramuses like you believe the IBGE, headed by radical petista Marcio Pochman...numbers can be, and in this government are, being manipulated....But I suppose comprehension of THAT, is above your brain-grade.

I like - not really - your rather misguided assessment that “The federal government anticipated several expenses in the first half of the year. So, there will be less public spending in the rest of this year”......it would be hilarious if not tragic. The federal government has been and continues to spend more and more, with a good chance of posting a deficit of over R$ 200 billion in 2024....so much for the promised “deficit zero” end of 2024, now been optimistically transferred to end of 2025.

Can't wait to see the extent of the mess Nine-fingers and his corrupt ministers will get Brazil into before he ends his term.
Sep 05th, 2024 - 03:45 pm - Link - Report abuse +2
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