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BC says Brazil's economy will suffer major impact from coronavirus

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We can say that the new coronavirus has come to change the patterns of society as we know it, and that, in fact, the economy in Brazil will be directly impacted by this global outbreak that has killed at least 1.3 million people around the world.
According to this week's O GLOBO newspaper, a study by Economist Intelligence, presented by Campos Neto via video conference, yielded some uninspiring figures. What do the studies say?
He predicts a 5.5% drop in Brazilian GDP, but he says it is difficult to draw up scenarios at this time.
The president of the Central Bank (BC), Roberto Campos Neto, acknowledged that the Covid-19 pandemic will have a “strong impact” on the Brazilian economy this year.
In a video conference organized by XP Investimentos last Saturday night, Campos Neto presented an Economist Intelligence Unit study showing that the country's economic activity could contract by 5.5% in 2020.
BC diz que economia no Brasil sofrerá grande impacto pelo coronavírus

The president, however, did not corroborate the number presented by the British institute and said that it is very difficult to draw a panorama in a scenario like the current one.

Coronavirus Crisis – Fact: Brazil will be severely impacted.

He stated that it is important to say, this is not an estimate from the Central Bank, the study done by The Economist Intelligence Unit.

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However, you can see the impact of the coronavirus on the growth of several countries. However, we can see, based on their estimates, that Brazil is one of the most affected.

It is very important to understand, regardless of whether the estimate is correct or not, that it is very difficult to estimate at a time like this, but even given these numbers, the federal government led by Bolsonaro has not shown any effective concern about the crisis.

Beyond the crisis caused by the new coronavirus, Campos Neto also cited issues such as the price of oil as explanations for the negative results of some countries:

It is already known to all that some countries are experiencing lower growth due to oil, others because they are very involved in the global value chain, and are experiencing major disruptions in production.

Source: O Globo Newspaper

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