RIO DE JANEIRO, BRAZIL - The São Paulo State Federation of Trade of Goods, Services and Tourism (FecomercioSP) said that the Brazilian economy should recover the level of the beginning of the last decade only in 2023.
In a statement, the organization points out that the 4.1% drop in Gross Domestic Product (GDP) in 2020 is not "the worst news about the Brazilian economic crisis."
FecomercioSP argues that the last significant growth of the Brazilian GDP occurred in 2013, with a 3% increase. From then on, a sequence of stagnation, drops, and shy rebounds followed - with 0.5% growth . . .