Brazil’s GDP to Drop 10.1 Percent in 2020 in Worst-Case Scenario, Projects UBS

Experts stress the risk of the pandemic leading to high levels of political uncertainty, with negative impacts on investor confidence.

RIO DE JANEIRO, BRAZIL - (Reuters) Swiss banking giant UBS (investment banking company) has revised the estimate for the retraction of the Brazilian economy in 2020 to 5.5 percent, after anticipating a two percent drop earlier this month, but depending on the scenario analyzed, the drop could be even higher, as much as 10.1 percent.

In the first scenario, the economy drops 5.5 percent. In the second, it is 7.2 percent. And in the third scenario, the economy shrinks by two digits.

In the first scenario, the existing restrictions on social distancing remain in effect until mid . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?