BC says economy in Brazil will suffer great impact from coronavirus

We can say that the new coronavirus came to change the patterns of society, as we know it, and that, in fact, the economy in Brazil will be directly impacted by this global outbreak that has killed at least 1.3 million people around the world.
According to information from this week's newspaper O GLOBO, a study was carried out by Economist Intelligence, presented by Campos Neto in a videoconference, which gave us a number that is not encouraging. What do the studies say?
He predicts a drop of 5.5% in Brazilian GDP, but he says it's hard to draw scenarios at this point
The president of the Central Bank (BC), Roberto Campos Neto, acknowledged that the covid-19 pandemic will have a “strong impact” on the Brazilian economy this year.
In the videoconference organized by XP Investimentos last Saturday night, Campos Neto presented an Economist Intelligence Unit study, showing that the country's economic activity may have a contraction of 5.5% in 2020.
BC diz que economia no Brasil sofrerá grande impacto pelo coronavírus

The president, however, did not corroborate the figure presented by the British institute and said that it is very difficult to draw an overview in a scenario like the current one.

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Coronavirus Crisis – Fact: Brazil will have a strong impact.

He stated that it is important to say, it is not an estimate of the Central Bank, the study done by The Economist Intelligence Unit.

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However, you can see the impact of the coronavirus on the growth of several countries. However, we can see, based on their estimate, that Brazil is one of the most affected.

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It is very important to understand, regardless of whether the estimate is correct or not, that it is very difficult to estimate at a time like this, but even in the face of these numbers, the federal government led by Bolsonaro has not been effectively concerned about the crisis.

Far beyond the crisis caused by the new coronavirus, Campos Neto also cited problems such as the price of oil as explanations for the negative result of some countries:

Everyone already knows that some of the countries are experiencing lower growth due to oil, others because they are very inserted in the global value chain, and are suffering a major disruption in production.

Source: O Globo Newspaper

Per: Secure Digital Writing

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