BRAZIL ECONOMY

The Brazilian economy contracted 4.1% in 2020, its worst performance in 25 years

epa09048836 Customers watch electronic products on a shopping street, in Sao Paulo, Brazil, 03 March 2021. The Brazilian economy contracted by 4.1% in 2020, its worst performance in the last 25 years, affected by the covid-19 pandemic, which paralyzed activities for a few months and reduced consumption by 5.5%, according to the Government. Although the drop was less than that projected by the Government and economists, it is the largest retraction Brazil suffered in the last 25 years since 1996, when the indicator began to be measured with the current criteria, and exceeded the 3.5% decline in 2015, when the country faced its biggest recession in decades. EPA/Sebastiao Moreira

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