The review of the drop in Brazilian GDP (Gross Domestic Product) in 2020, from 3.9% to 3.3%, places Brazil in a position above the world average in the initial year of the Covid-19 pandemic.
The closed GDP data for that year was released this Friday (4) by the IBGE (Brazilian Institute of Geography and Statistics).
In a group of 49 economies with data collected by the OECD, Brazil appears in the 21st position, with an above-average performance of -4.1%. IMF (International Monetary Fund) data for 195 economies show the country in 87th position, slightly better than the world performance estimated at -3.5%.
Brazil was one of the countries that spent the most during the 2020 crisis to support the economy and allow families and companies to follow the rules of social isolation.
Despite initial resistance from the federal government, Congress approved Emergency Aid for R$600. The Ministry of Economy’s proposal was R$200.
The Emergency Employment and Income Maintenance Program was also approved, among other measures.
As a result, the economy recovered faster than expected in the second half of that year, after the two declines seen in the first two quarters.
Despite the 2020 review, Brazil is still expected to end the Jair Bolsonaro government with a growth rate equivalent to half the world average.
The growth below that of the world has been verified since the Dilma Rousseff government, through the two subsequent administrations, and the perspective is that this performance will be maintained in the next four years, according to the projections of Brazilian economists and multilateral organizations.
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