LatinNews Daily - 06 March 2020

* Brazil’s national treasury secretary Mansueto Almeida has expressed concern with the country’s low economic growth. Figures released by the national statistics institute (Ibge) on 4 March show Brazil’s GDP grew by 1.1% in 2019. Speaking at an event in Brasília, Almeida said Brazil’s sluggish growth was “not normal” and a source of worry. “A country with so much poverty, with such high inequality, that grows 1% in a year, clearly causes frustration in various segments of society”, he said. In contrast, Economy Minister Paulo Guedes has been optimistic in his assessment of Brazil’s GDP figures. Speaking to businesses and investors at the Federação das Indústrias do Estado de São Paulo (Fiesp) private sector lobby, Guedes said the 2019 GDP results showed that Brazil’s economy is “reaccelerating”. Dismissing the “commotion” around the 2019 results, Guedes maintains that GDP will grow 2% in 2020, despite intensifying global headwinds as a result of the spread of the coronavirus epidemic.

End of preview - This article contains approximately 160 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial