THE Brazilian Institute of Geography and Statistics (IBGE) released a report stating that the Brazilian economy expanded 2.9 percent in Peru.
According to IBGE, Brazil’s agricultural sector contracted 1.7 percent.
While services and industry sectors showed a growth of 4.2 percent and 1.6 percent.
The IBGE’s recent figures also showed that every quarter, the Gross Domestic Product or GDP of Brazil was down 0.2 percent in the October-December period in 2022, reeling from the impact of a spike in consumer prices and steep hikes of interest rate.
The GDP in the fourth quarter showed an increase of 1.9 percent annually, compared to the same quarter of 2022.
