The outlook for this year points to expansion with controlled inflation, even amid rising domestic demand in the North African country.
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At the Arab-Brazilian Chamber, BTG Pactual’s chief economist, Mansueto Almeida, analyzed the global scenario and highlights concerns about Brazil’s fiscal sector. Angela Martins, CEO for Latin America at First Abu Dhabi Bank, shared Arab investors’ perspective on the country.
The International Monetary Fund (IMF) reports that the country has adopted economic measures that foster growth beyond the oil sector.
The International Monetary Fund praises the country’s economic policy management and economic resilience but warns about regional instabilities and climate challenges.
Revenues during the first half of 2024 reached USD 6.6 billion, according to the Arab country’s Ministry of Tourism.
The central bank bumped its 2024 economic growth forecast despite the historic floods in Brazil’s southernmost state of Rio Grande do Sul that caused a significant downturn.
According to the IMF, recovery was ed by the 2022 peace agreement in Ethiopia, which generated a significant expansion in port activities, train traffic, construction, and energy production.
After a visit to the country and discussions with Kuwaiti authorities, the International Monetary Fund says the economy is projected to contract by 1.4% in 2024.
All sectors of the economy grew last year, particularly agriculture, which posted a 15.1% expansion from 2022.
This year’s GDP projections are based on the World Economic Outlook review, which also estimated 1.7% growth for Brazil.
The Arab country’s economy is projected to sustain its 2023 growth rate this year, according to the Fund’s projections. The IMF approved a new disbursement to Jordan’s economic development.
The IMF mission anticipates normalization of growth one year after the strong performance resulting from the World Cup and estimates that the country’s economy could grow by 5%.
Ahmed Hachani said at a plenary session that reforms implemented by the government can help the country grow. The government aims to integrate the informal economy into the banking circuit.
The fund and local authorities agreed to a USD 1.2 billion loan. The country is expected to grow 2.6% this year.
