BRASILIA () – Brazil’s Finance Minister Fernando Haddad said on Tuesday that the country’s economic growth likely hit 3.6% in 2024, while the primary deficit for the year is expected to have reached 0.1% of gross domestic product (GDP).

This means the government probably met its goal of eliminating the primary deficit, excluding interest payments, as the target allows for a tolerance margin of 0.25% of GDP, or a deficit of up to 28.8 billion reais.

Speaking in an interview with TV channel GloboNews, Haddad said his goal was to leave the economy “in better shape than I received,” which would involve controlling spending “in the right way, without harming low-income workers.”

Haddad emphasized the need for the government to improve its communication at a time when global markets remain highly “sensitive”.

He said that the external environment is more challenging and the entire world is concerned about how the U.S. economy will be managed, with news on this front having a quick and significant impact on asset prices.