This growth is mainly attributed to an increase in investment, which contributed to a 10.8 per cent increase in gross fixed capital formation compared to the same period in 2023, according to Toda Palavra, partner of TV BRICS.

Experts say the Brazilian government’s expectations, initially set at 3.3 per cent gross domestic product (GDP) growth for 2024, could be revised upwards. 

Juliana Trece, economist at the Getulio Vargas Foundation, which focuses on Brazilian economic development, stresses that for economic growth to lead to a better quality of life, Brazil must invest in areas such as education, in addition to income transfer programmes such as Bolsa Familia. 

The specialist notes that education is key to long-term sustainable growth. 

African Times published this article in partnership with International Media Network TV BRICS