The first projection made by the Lula government revised the numbers, predicting a growth of 1%; Market estimates 0.89% increase in Gross Domestic Product
O Ministry of Finance revised downwards the estimate of the Gross Domestic Product (GDP) of 2023. The last projection had been made in the government Bolsonaroand this was the first made in the management Lula. The forecast put into the account of the Banco Central the worsening of economic activity caused by high interest rates. Despite the decrease in the projection, the numbers are better than those presented by both the Central Bank and the financial market. For the market, GDP growth in 2023 should be around 0.89%, while for the Central Bank it should be around 1%. According to the Ministry of Finance, the forecast for 2024 is also a reduction, going from 2.7% to 2.34%. The economic policy secretary, Guilherme Mello, spoke out and explained the reduction in the estimate. “I think that the incorporation of these measures in the projections tends to bring the growth projection, which has already been growing in recent months, to something closer to what we are projecting. We work with a scenario that we believe (to be) quite realistic, some might say optimistic, others conservative”, said Mello. Now the estimate of IPCA, which measures inflation, increased for both 2023 and 2024. For this year, the projection was from 4.6% to 5.31%. Mello also spoke on the subject, saying that, despite the increase, the numbers are better than those projected by the financial market.
*With information from the reporter Letícia Miyamoto
