Growth will be around 3% for the third consecutive year in 2024, but a slowdown ahead is likely, driven by a less supportive global environment and higher-than-anticipated SELIC rates. The balance of risks has recently worsened, reflecting global factors and rising concerns over fiscal imbalances.

Despite uncertainty and high interest rates, investment remains strong in countries like the U.S. and France, especially in intellectual property and ICT, but not in Spain, Canada, and most emerging markets. GDP growth remains key, but digitalization and climate transition policies will drive future investment.