Brazil's economy to exceed expectations with over 3 pct growth in 2024, says president

RIO DE JANEIRO, Nov. 26 (Xinhua) -- Brazilian President Luiz Inacio Lula da Silva on Tuesday said Brazil's economy, the largest in Latin America, will exceed expectations with more than 3 percent growth in 2024, amid controlled inflation and rising wages.

"We are experiencing a favorable situation with controlled inflation and the economy growing more than forecast," the president said in a speech at the opening of the National Meeting of the Construction Industry in Brasilia.

"Things are happening" at the macroeconomic and microeconomic levels in Brazil, he added.

On Monday, the Brazilian government raised its GDP growth forecast to 3.3 percent, while the financial market projected economic growth of 3.17 percent.

The Central Bank of Brazil on Monday revised its inflation forecast for the end of 2024 from 4.64 to 4.63 percent, marking the first dip in 18 weeks, according to the bank's weekly survey.