Business

Brazilian economy in 2020: expectation v. reality

2020 was meant to be the year Brazil finally "took off," in the words of the government. But the pandemic has dragged the country into another crisis

expectation economy brazil
Store in Salvador, Bahia. Photo: Joa Souza/Shutterstock

At the end of 2019, the mood in Brazil was one of cautious optimism. In the wake of the approval of a sweeping pension reform, the expectation was that the country had what it takes to approve other structural issues, such as simplifying Brazil’s Byzantine tax code, approving a new regulatory framework for sanitation services, and rationalizing the structure of public service in the country.

However, as was the case in countries around the world, the pandemic shattered any hopes of a positive year in economic terms. 

The agenda in Congress was consumed by coronavirus-related bills (as political...

Access all of The Brazilian Report
Start your 7-day free trial.
Free trial