Record harvest makes OECD project 3.2% growth in Brazilian GDP

The Organization for Economic Cooperation and Development (OECD), the “club of rich countries”, improved its growth projection for the Brazilian economy in 2023. It went from 1.7% in June to 3.2% in September. The data was released this Tuesday morning (19).

According to the organization, positive surprises in relation to GDP growth have been recorded among the G20 emerging economies. Brazil was favored by good weather conditions that resulted in a super harvest of more than 320 million tons. Other highlights were South Africa and India.

Growth forecasts for 2024 have also been revised. They went from 1.2% in June to 1.7% in September.

Inflation expectations were also revised by the entity. For 2023, the projection is that the IPCA will reach 4.9%. In June, it was 5.6%. And, for next year, there was a reduction in the signaling for price increases: from 4.7% to 3.6%.