Brazil’s GDP rises 2.3 percent in 2005

27 February 2006

Brasilia, Brazil, 27 Feb – Brazil’s gross domestic product (GDP) rose by 2.3 percent in 2005, less than half the growth rate of the previous year, the country’s Geographic and Statistics Institute (IBGE) said Friday in Brasilia.

According to the IGBE, the figure, which fell with market expectations, was close to the average growth rate of the Brazilian economy over the last ten years, of 2.2 percent.

The expansion of the Brazilian economy fell short of the 4.3 percent Latin American average, according to forecasts from the Economic Commission for Latin America and the Caribbean (Cepal), only posting a higher growth rate than Haiti.

Economic analysts consider that Brazil has not been able to take advantage of a favorable global economic climate due to its high interest rates and the country’s political crisis beginning in May 2005.

GDP per capita increased by 0.8 percent in 2005, a year in which the country’s population grew by 1.4 percent to 184.2 million people. (macauhub)