Good morning. Brazil has gotten —and will continue to get— poorer. Bolsonaro’s political woes. The future of Avianca Airlines in Brazil.
Brazil has gotten —and will continue to get— poorer
Between 2014 and 2017, 7.3m Brazilians began living with under USD 5.50 per day. Now, 21% of the Brazilian population is below the poverty line, according to the most recent data from the World Bank. in 2014, that rate was at 17.9%. In its report, the bank offered little silver lining, stating that Latin America should grow by only 0.9% this year, thanks to the lackluster economic performance of Mexico, Brazil, and Argentina—and the Venezuelan collapse.
The bank addressed the massive poverty reduction during the 2003-2013 era—which it called “Brazil’s Golden Decade”—when the poverty rate was cut from 41 to 19%. This movement, however, was mainly based on the commodity boom and the favorable business cycle of the beginning of the century, with only 13% of poverty reduction being the result of structural (and therefore lasting) changes.
Another figure, produced by the National Confederation of Commerce, also comes as alarm. Almost two-thirds