RIO DE JANEIRO, BRAZIL - The novel coronavirus pandemic will cause economic activity in Brazil to contract eight percent in 2020, the World Bank projects in a new report released on Monday, June 8th. A drop of such magnitude would be the greatest in 120 years, a period for which the official statistics institute, IBGE, has data on the evolution of the country's Gross Domestic Product (GDP).
The collapse of the Brazilian economy is just one of the many faces of the "severe recession" that the World Bank predicts in the global scenario as a result of Covid-19. The . . .