Brazil ends new ‘lost decade’ with GDP drop of 4.1% in 2020

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(The Buenos Aires Times)

The economy of Argentina’s giant neighbour registered a 4.1% contraction in 2020, according to official data.

Brazil’s economy shrank 4.1 percent in 2020, officials said Wednesday, closing out what analysts called another “lost decade” for Latin America’s biggest economy with a year badly disrupted by the coronavirus pandemic.

The contraction, which was in line with analysts’ forecasts, added to a bad run for a country that was just recovering from a devastating two-year recession in 2015 and 2016.

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