Brazil’s Finance Ministry raised its economic growth projection for 2023 to 3.2%, up from 2.5%, primarily due to a stronger-than-expected economic activity in Q2. However, private economists are less optimistic, forecasting 2.89% growth this year and just 1.5% next year. Meanwhile, Brazil’s annual inflation rate for August stood at 4.61%, higher than the previous month’s 3.99% and moving further from the central bank’s target of 3.25%.