Today, we talk about why Brazil’s recovery will be slower than the rest of the world, according to the World Bank. The race for the Speaker position heats up. And holiday period boosts isolation rates in Brazil
World Bank: Brazil to grow slower than its Latin American peers
In its latest Global Economic Prospects report, the World Bank estimated that the Brazilian economy will bounce back 3 percent — below its forecast for the global economy (4%) and for Latin America (3.7%).
- These projections, however, are tied to the large-scale rollout of vaccines around the world.
What is the World Bank saying? “In Brazil, the recovery in private consumption and investment in the second half of 2020 is expected to continue in early 2021, supported by improving confidence and benign credit conditions, pushing growth to 3 percent in 2021. The rebound is expected to be uneven across sectors; industry and agriculture are expanding more rapidly than the services sector due to a lingering risk aversion among consumers affecting travel, tourism, and restaurants, in particular. Momentum is expected to slow as the year proceeds, in part due to the withdrawal of monetary and fiscal stimulus, bringing growth down to 2.5 percent...