Advanced Search

LatinNews Daily - 30 March 2021

Click here for printer friendly version
Click here for full report

In brief: Brazil to grow below regional average in 2021

* The World Bank (WB) has published its latest semiannual report on Latin America and the Caribbean (LAC), in which it estimates that Brazil’s GDP will grow 3% this year. Brazil’s GDP contracted 4.1% last year, one of the smaller economic contractions recorded across the region, which was “one of the most severely affected in economic and social terms” by the coronavirus (Covid-19) pandemic and saw an average GDP contraction of 6.7% according to the WB. But Brazil’s forecast 3% “partial GDP recovery” this year will come in below the regional average of 4.4%, with the WB noting that the pandemic will continue to hinder activity in the first half of the year and warning that prospects for poverty reduction are limited.