GDP may grow 2% in 2023, says Haddad
The Minister of Economy stated that, in five months, ‘Lula’s government has already done a lot’ and that the disruption of public accounts is what ‘can bring problems to society’. GDP growth could reach 2% this year, says Haddad The Minister of Finance, Fernando Haddad, believes that the growth of the Brazilian Domestic Product (GDP) in 2023 could reach 2%. In an interview with GloboNews Mais, he said that the Lula government has already done a lot in five months and that the breakdown of public accounts is what “can bring problems to society.” “We are returning to normality, and we are going to grow more than people imagine, when I say market people, they are still projecting a growth of 1.1%, 1.2%. This will not happen. Brazil will grow 1.7%, 1.8% and the most optimistic like me say that growth could reach 2% this year.” ALSO READ Car price reduction measure ‘is not a long-term program, says Haddad Sports betting regulation project will not compensate industry exemption Haddad also said that the government “is correcting the madness that was done last year”. “In five months, we have already done a lot and we will continue to do so. What can cause problems for society is the disruption of our accounts.” Haddad says he believes in the beginning of a cycle of falling interest rates in Brazil In 2022, Brazil’s GDP grew by 2.9%, according to the Brazilian Institute of Geography and Statistics (IBGE). Activity was greatly boosted by the services sector, the mainstay of the Brazilian economy, which accelerated mainly in the first half. Fiscal stimuli given to the economy boosted the numbers, along with the so-called “reopening effect”, in which the return to bars, restaurants, beauty salons, tourism and other activities caused a significant increase in consumption.