Brazil’s GDP in 2021 should grow below the region’s average, says World Bank

The World Bank reported that the institution’s forecast is that Brazil’s Gross Domestic Product (GDP) will grow by 3% in 2021, below the average forecast for Latin America, of 4.4%. According to the report, neighbouring countries are expected to outperform Brazil, for example: Argentina: 6.4 percent; Chile: 5.5 percent; Colombia: 5 percent.
For the World Bank, Latin America and the Caribbean suffered the greatest damage to the economy and health during the Covid-19 pandemic.

Source: G1 Economia

CTG Brasil invests $ 178k in hydroelectric plant programme

CTG Brasil has signed a partnership with Instituto Meio and is launching a pilot program to foster job and income generation in the communities surrounding its hydroelectric power plants. The R$ 1 million ($178 k) investment will be directed at entrepreneurial actions and the acceleration of productive groups in the regions of the Jurumirim and Garibaldi plants until 2022. The program will help micro and small entrepreneurs through training, which will count on mentoring, acceleration and incubation, including specialised consultancy and financial resources for the chosen groups.

Source: Canal Energia

After $893 mm loss in 2020, fashion chains fall even further

The closure of shops due to the pandemic this month and uncertainties about the reopening of traditional retail are expected to hinder fashion retail in the first half – one of the segments most impacted by the crisis caused by the coronavirus. The demand in this segment have been already affected by the greater restrictions on circulation since February. And online sales, despite the large growth, still represent less than 15% of the annual sales of the big chains.

Source: Valor International