IMF “will be surprised” with Brazil’s economic progress in 2023, Lula says

The president of Brazil, Luiz Inácio Lula da Silva, assured this Thursday that the International Monetary Fund (IMF) “will be surprised” by the performance of Latin America’s largest economy in 2023.

The Brazilian Institute of Geography and Statistics (IBGE) announced that the Gross Domestic Product (GDP) grew 1.9 percent in the first quarter of this year compared to the last three months of last year, above the expectations of the financial market.

Faced with the forecast that Brazil’s 2023 GDP advance will be 0.9 percent made by the IMF, Lula assured that his government would surpass that mark.

“We are going to grow more than the IMF expectation. They will be surprised with the performance of our economy,” Lula told journalists.

Lula said that the injection of money generated by the increase in the payment of social programs to vulnerable citizens would improve the activity.

“As we have already recovered all our social policies, money begins to circulate among the poorest people in this country.”

“These people become consumers, this consumption generates more trade. This trade is generating more jobs, this work is generating more salaries, this salary is generating more jobs and more consumption. This is my bet”, he assured.

The Minister of Economy, Fernando Haddad, indicated that official studies indicate the possibility of a growth of close to 2 percent per year in 2023.

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