Brazil to become the world's ninth largest economy in 2023

With gross domestic product (GDP) growth of 3.1 per cent this year, Brazil is expected to rise two places to become the world's ninth largest economy in 2023. This was announced by the International Monetary Fund (IMF) on Tuesday, 19 December. According to the fund, the country should end the year with a nominal GDP of $2.13 trillion. This is reported by Toda Palavra, partner of TV BRICS.

Last year, Brazil ranked 11th. According to IMF forecasts, by 2026 Brazil may rise one position and become the eighth largest economy on the planet with a GDP of $2.476 trillion.

According to the IMF, the US, China and Germany will remain the world's largest economies this year. According to the agency's forecasts, global economic growth will slow down this year to 3 per cent compared to 3.5 per cent in 2022. For 2024, the IMF forecasts global economic growth of 2.9 per cent.

For Brazil, the IMF forecasts growth of 1.5 per cent next year. This estimate is lower than that of the Organisation for Economic Co-operation and Development (OECD), which forecasts the Brazilian economy to grow by 1.8 percent in 2024. The Ministry of Finance forecasts growth of 2.2 per cent.

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