São Paulo Expected to Grow 5% in 2021, and Brazil 3.5%, Estimates Planning Secretary

The state economy should rebound at a faster rate with a gradual return of activity, beginning of vaccination and measures related to the environment.

RIO DE JANEIRO, BRAZIL - São Paulo State Treasury and Planning Secretary Henrique Meirelles estimates that the state's economy should rebound at a faster rate than the country as a whole. The São Paulo government estimates a preliminary 5% growth in the state for 2021, while projections point to a 3.5% growth for Brazil.

Last year, Brazil slumped close to 10% in the second quarter, while São Paulo fell 7%, recalled Meirelles this Tuesday. The rebound was also faster in November, according to data from SEADE (Statewise System for Data Analysis Foundation), he said.

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