World Bank Predicts that Brazil Will Be Among The Worst Performing Economies in Latin America in 2021

Institution says that region is most affected by deaths and drop in GDP so far

São Paulo

The World Bank projects growth of 3% for the Brazilian economy in 2021, a figure close to government and private sector estimates and which places the country in the top ten with the weakest results expected for 29 Latin American and Caribbean economies, according to a report released this Monday (29).

In 2020, the Brazilian economy shrank 4.1%, the sixth smallest drop and a result above the average of -6.7% in the region, which should expand by 4.4% in 2021, according to the World Bank. Due to emergency aid, Brazil spent the most to combat the pandemic.

Latin America and the Caribbean suffered more health and economic damage due to the Covid-19 pandemic than any other region, although there is the potential for significant transformation in key sectors as the region begins to recover, says the report of the Bank.

The number of deaths, for example, grew by almost 90% in the region, triple the increase seen in the world average, while the economic downturn was greater than in other country blocs. In 2021, there is no prospect of a vaccination rhythm that will grant immunity to the population of Latin America this year, according to the bank.

Translated by Kiratiana Freelon

Read the article in the original language