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Brazil holds 2024 GDP projection at +2.5%, raises inflation forecasts

Reuters
People walk along a street, in Porto Alegre

BRASILIA (Reuters) - Brazil's Finance Ministry maintained its economic growth projection for this year at 2.5% on Thursday but raised the inflation estimate to 3.9% from 3.7% calculated in May.

For 2025, the ministry's economic policy secretariat lowered the gross domestic product (GDP) growth projection to 2.6% from 2.8% and increased the expected inflation rate to 3.3% from the previous 3.2%. The official inflation target for both years is 3%.

(Reporting by Marcela Ayres; Editing by Chris Reese)