"GDP growth means more jobs and income in the hands of Brazilians," the president said on Friday via his X account.

Brazilian President Luiz Inácio Lula da Silva has welcomed the GDP growth figure for 2024, saying that 2025 will be "the year of harvest" of good economic results.

"GDP growth means more jobs and income in the hands of Brazilians," the president said on Friday via his X account.

Along the same lines, the Minister of Planning and Budget, Simone Tebet, has stressed that Brazil continues to grow above expectations. She also highlighted the increase in GDP per capita.

"Good news. It means an increase in the average income of Brazilians. Now is the time to continue moving forward, fighting inflation to reduce food prices," he commented on his X account.

Brazil's gross domestic product (GDP) will grow by 3.4% in 2024 compared to the previous year, the Brazilian Institute of Geography and Statistics (IBGE) reported on Friday.

By sector, the best performance has been in the services sector, where growth of 3.7% has been recorded. This is closely followed by industry, with a year-on-year expansion of 3.3%, while the agricultural sector has contracted by 3.2%.

As for the fourth quarter, GDP showed a positive variation of 0.2% compared to the third quarter of the same year.