Happy Friday! Today, we talk about Brazil’s 2023 GDP figures. How tax disputes became an important source of revenue for the government. Brazilian inequality is as striking as ever. And a congresswoman is facing criminal charges after a Brazilian Report revelation.
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Brazilian GDP grew 2.9 percent in 2023
The Brazilian economy continued to outperform expectations at the end of 2023, according to a new GDP reading released just minutes ago by the Brazilian Institute of Geography and Statistics (IBGE). When many economists expected a Q4 contraction, GDP managed to stay afloat during the last three months of the year.
- In 2023 as a whole, the economy grew 2.9 percent. While the economy has shown resilience, the result came slightly below the markets’ median forecast (2.94 percent) as surveyed weekly by the Central Bank.
👉 The GDP highlight. Rebeca Palis, the GDP survey coordinator at the IBGE, says that growth in economic activity in 2023 was driven by a boom from the agricultural sector in the first quarter. In all of 2023, agribusiness grew by...