Sadia is one of the world’s leading producers of chilled and frozen foods. Established in Brazil in 194...
Cyrela Brazil Realty is the largest residential real estate developer in Brazil. Considered one of the m...
Today, Banco do Brasil is the largest financial institution in the Country with 24.4 million clients and ...
CPFL Energia is a holding company in Brazilian electricity sector, operating through its subsidiaries in ...
Copersucar S.A. is the largest Brazilian sugar, ethanol and bioenergy company and a significant player in...

On Twitter, Meirelles says that GDP shows that Brazil follows a growth path

2017 GDP

Minister of Finance celebrated economic performance and evaluated what progress has been made

Finance Minister Henrique Meirelles said that Brazil is on a growth path. On Twitter , he celebrated the figures for Gross Domestic Product (GDP), released by the Brazilian Institute of Geography and Statistics (IBGE) on Friday (1st). He also noted that the country recorded, in the accumulated of the year, growth of 0.6%, a result that already surpasses the economists' initial forecasts for 2017.

Given the data released, some financial market analysts began to revise the year's forecasts for the better. Some of them are already starting to project a GDP above 1%. According to the minister, GDP data show strong and widespread growth among sectors of the economy.

Meirelles also said it is important to highlight industry performance between July and September. The production of the plants installed in the country, explained the minister, grew 0.8%. Only processing companies advanced 1.4% in the period.

 

The minister evaluated that the moment is favorable for the investments, which showed recovery in the third quarter of the year. Compared to the period ended in June, investment growth was 1.6%. Meirelles said that the data shows optimism with the future:

In the third quarter of the year, Gross Domestic Product (GDP) grew 1.4% when compared to the same period last year. This was the best performance of the quarter since 2013. In practice, this number means that Brazil has emerged from the crisis, started to produce more wealth and now is able to generate employment and income for its population. Between July and September alone, the country generated R $ 1.64 trillion in wealth. Year-to-date, this figure reached R $ 4.85 trillion.

Source: Government of Brazil, with information from the Ministry of Finance