LatinNews Daily - 30 April 2020

* The Instituto de Pesquisa Econômica Aplicada (Ipea) in the Brazilian government has revised its projections for growth in the country’s agricultural sector, now expecting 2.4% growth in 2020, down from the 3.8% forecast in March. The Ipea notes that this outlook remains positive in light of the recession that other sectors of the economy will suffer as a result of the coronavirus (Covid-19) pandemic. The Ipea adds that the downward revision in agro-sector GDP was driven more by an expected fall in soya production in the south of the country than by the pandemic, although beef exports are expected to suffer as a result of the coronavirus-related global economic recession. Representatives from Brazil’s agricultural sector are confident that the industry will come out of the economic crisis caused by the pandemic in a strong position, even as Brazil is expected to see its overall economy contract by as much as 5% this year.

End of preview - This article contains approximately 156 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