OECD projects 3.7-percent growth for Brazil in 2021

oecd growth brazil
25 de Março street emptied by Covid-19 restrictions. Photo: Paulo Pinto/FP

The Organization for Economic Cooperation and Development (OECD) expects the Brazilian economy to grow 3.7 percent in 2021, a considerable increase from the organization’s 2.6-percent growth forecast in December. 

Still, Brazil’s bounceback is likely to be slower than other developing countries, such as neighbors Argentina (4.6 percent) and Mexico (4.5 percent). As a region, Latin America is tipped to grow 3.7 percent in 2021, after a 7.7-percent slip due to the pandemic in 2020.

The OECD states that countries achieving faster vaccination against Covid-19 are more likely to “support policies and be benefited economically.” This isn’t the case in Brazil: due to federal government mismanagement, the country has vaccinated around 8.1 million people so far, which means only 3.84 percent of the population.

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