S&P says Brazil’s recovery was faster and revises GDP to -5.8%

Brazil’s recovery from the stronger effects of the pandemic was faster than expected, according to S&P. The agency revised its GDP projection from -7% to -5.8%, while keeping the estimate for 2021 at 3.5%. In a report, S&P says three factors have accelerated the recovery: strong monetary and fiscal stimulus, lax social isolation measures and solid Chinese demand.

Source: Valor Investe