Brazil's government hikes 2024 GDP, inflation forecasts

Brazil's Finance Ministry has increased its projection for the country's economic growth this year to 2.5% from the 2.2% forecast in March, the ministry's economic policy secretariat said on Thursday.

The estimate for gross domestic product (GDP) growth in Latin America's largest economy in 2025 was maintained at 2.8%.

The Brazilian government has also hiked its forecast for this year's inflation to 3.70%, from 3.50% previously, while 2025 inflation is now seen at 3.20%, compared with a 3.10% March projection.