LatinNews Daily - 17 July 2020

* Brazil’s national statistics institute (Ibge) has reported that 1.3m of the country’s businesses were closed in the first fortnight of June, either temporarily or permanently. Of these, 39.4% (522,700) said they had stopped their activities as a direct result of the coronavirus (Covid-19) pandemic. Small businesses (up to 49 employees) were overwhelmingly affected, representing 99.2% of the firms closed due to the pandemic. The services sector was most impacted (representing 49.5% of businesses closed due to the pandemic), followed by the retail sector (36.7%), construction (7.4%), and industry (6.4%). The Ibge counted 2.7m active businesses, of which 70% said that the pandemic had negatively affected their activity, and 13.6% reported finding new opportunities during the pandemic. 

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