Brazil’s economy grew by 3.4% in 2024, primarily due to household spending. The industrial and service sectors also expanded, while agriculture faced a decline. President Lula and Minister Tebet highlighted the significance of these developments, with projections for continued growth in 2025.
Brazil achieved a notable economic growth of 3.4 percent in 2024, as reported by the Brazilian Institute of Geography and Statistics (IBGE). This growth was primarily fueled by robust household spending, which increased by 4.8 percent compared to the previous year. The industrial and service sectors also contributed positively with expansions of 3.3 percent and 3.7 percent, respectively.
Conversely, the agricultural sector faced a decline of 3.2 percent due to disappointing harvests. Overall, exports grew by 2.9 percent, while imports surged by 14.7 percent, driven by increased demand for chemicals, machinery, and motor vehicles. This divergence in sector performance reflects the varied dynamics within Brazil’s economy.
President Luiz Inacio Lula da Silva praised the nation’s economic achievements, proclaiming that 2025 would be “the year of the harvest.” He expressed optimism about the impact of a growing GDP, stating, “A growing GDP means more jobs and more money in the hands of Brazilians.”
Minister of Planning and Budget Simone Tebet revealed that Brazil’s GDP per capita reached 55,247.45 reais (approximately 9,558.4 U.S. dollars), marking a 3.0 percent rise. She underscored the importance of addressing inflation to reduce food prices for consumers effectively.
Looking ahead, financial markets anticipate a 2.01 percent growth in Brazil’s GDP for 2025, while the government forecasts a slightly higher growth rate of 2.3 percent, indicating continued optimism regarding the economic recovery and stability in the coming years.
In summary, Brazil’s economy demonstrates resilience with a 3.4 percent growth in 2024 driven by household spending and service sectors while contending with agricultural challenges. The government and financial analysts project moderate growth for 2025, highlighting ongoing efforts to manage inflation and bolster public welfare. President Lula’s optimistic outlook signals a commitment to sustainable economic advancement for the future.
Original Source: ana.ir
