Today, we address the grim expectations for the Brazilian economy. Petrobras’ controversial sale of an oil refinery to the Mubadala fund. And what will happen to the lawmaker arrested for posting a video online.
Economy: The Ghost of Recessions Yet-To-Come
Economists expected activity to drop in Q1 2021, but projections are now indicating another slump in Q2, which would put Brazil into a technical recession. The growing pessimism comes as Covid-19 cases and deaths continue to rise, vaccination rollout is stuttering, and Congress has yet to come up with a new cash-transfer policy to replace the defunct emergency salary.