DON’T MISS THIS
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