With a projected 3. 1% expansion in its gross domestic product (GDP) this year, Brazil is expected to rise two positions and become the world’s ninth largest economy in 2023, the International Monetary Fund (IMF) announced on Tuesday, December 19.
The country is expected to end the year with a GDP of $2. 13 trillion, exceeding the estimated $2. 12 trillion for Canada, he said. Last year, Brazil ranked 11th.
By 2026, Brazil could gain a position and be the eighth largest economy on the planet, with an estimated GDP of 2,476 trillion dollars, according to the IMF.
The forecast is based on the World Economic Outlook report released in October. At the time, the IMF estimated that Brazil’s GDP would grow by 3. 1% this year, compared to the 2. 1% forecast in the previous report.
According to the IMF, the United States, China, and Germany are expected to remain the world’s largest economies this year. The firm forecasts that the global economy will slow down this year, from 3% to 3. 5% in 2022. By 2024, the IMF estimates a global expansion of 2. 9%.
For Brazil, the IMF forecasts growth of 1. 5% next year. This is lower than the forecast of the Organization for Economic Cooperation and Development (OECD), which forecasts that the Brazilian economy will grow to 1. 8% in 2024. The Department of Finance forecasts an expansion of 2. 2%.
Here is the rating of the ten largest economies in the world in 2023, according to IMF projections:
In X, Brazilian President Luiz Inácio Lula da Silva celebrated the result with a joke: “You don’t know how many cadres it takes to be so lucky. . . »
The head of the Presidential Secretariat of Social Communication, Paulo Pimenta, also celebrated the announcement by noting on his social networks that Brazil is “back among the 10 most sensible. “
In his speech at the ILO Conference in Switzerland, Lula said that the well-being of the population is strongly related to commitments to the preservation of the environment.
The general director of the state-owned company, Magda Chambriard, criticized the Brazilian Institute of the Environment for authorizing oil exploration in the region.
The prosecutor called the scenario a “new humanitarian crisis at the airport,” noting that he has recently observed an influx of Afghans and Vietnamese.
After the Geneva conference, Lula will travel to Italy to attend the G7 Summit, which brings together the leaders of seven of the world’s largest economies.
The Development Bank of Latin America and the Caribbean (CAF) supports the creation of the museum, which will be a center for clinical and cultural dissemination.
Since the beginning of the year, cumulative inflation stands at 2. 27%, while in the last 12 months it has reached 3. 93%. This figure is in line with the government’s target of 3%.
President Lula also called for a reform of the governance formula that reflects the new geopolitical arrangements and strengthens the role of the United Nations.
Forecasts predict accumulated rainfall of between 50 and 120 millimeters (mm) in the central and northwestern areas of Rio Grande do Sul and in the Missões region.
On his trip to Italy, the President will travel to Geneva, Switzerland, to attend the International Labor Organization (ILO) convention from June 3 to 14.
On November 5, 2015, a Samarco dam collapsed in Mariana, releasing 39 million cubic meters of tailings and killing nineteen people.