Ipea estimates a 1.8% drop in GDP

The Brazilian economy will retract at least 0.4% this year as a result of the coronavirus pandemic, estimates the Ipea (Institute of Applied Economic Research), which works with three scenarios for GDP, depending on the confinement period imposed by the disease. In the worst-case scenario, which foresees three months of confinement, the economy would contract by 1.8% in 2020. Ipea projected, before the Covid-19 pandemic, an expansion of 2.1% in economic activity.

Source: Reuters