Brazil Macroeconomic Outlook 2025. Nonetheless, the outlook is highly uncertain. President lula’s economic team is contemplating a more modest fiscal surplus target of 0.25% of gdp for 2025, a reduction from the previously anticipated 0.5% surplus.
However, macroeconomic framework is expected to remain broadly adequate, albeit with substantial downside risks, calling for strong fiscal consolidation. Economic activity rebounded strongly in the first half of 2023 driven by an exceptional agriculture harvest and resilient household consumption.
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