Brazil Central Bank Sees Economy Growing Faster Than Forecast
- Central bank increased 2023 growth estimate to 1.2% from 1%
- Most analysts see 0.9% expansion this year, 1.4% in 2024
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Brazil’s central bank expects the economy to grow at a faster pace than most analysts predict this year even as it holds interest rates steady at a six-year high.
The bank forecasts that gross domestic product will expand 1.2% this year, more than the 1% growth it had estimated in December, according to its quarterly inflation report published on Thursday. Policymakers see agriculture and livestock as the main drivers of economic activity. Analysts surveyed by the monetary authority, meanwhile, see GDP rising 0.9% in 2023 and 1.4% in 2024.