After Worst Q2 in 40 Years, Brazil Will Take Time to Recover Losses

The IBRE/FGV estimate points to a 9.8 percent drop in GDP between April and June, when compared to Q1 this year; recovery will be slow, alerts the institution.

RIO DE JANEIRO, BRAZIL - It will take time for Brazil to recover what it has lost with the crisis caused by the coronavirus pandemic.

The country has experienced its worst second quarter in the past 40 years, according to estimates by the Getúlio Vargas Foundation's Brazilian Economics Institute (IBRE/FGV). The data point to a 9.8 percent drop in Gross Domestic Product (GDP) between April and June 2020, when compared to the first quarter.

The record drop in only one quarter is higher than the cumulative loss in each of the nine contraction periods Brazil has experienced . . .

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