Brasilia: Brazil’s government on Friday drastically downgraded its growth projections for 2020 by 2.1 percent to practically zero (0.02 percent) due to the coronavirus pandemic.
The Economy Ministry had already dropped its expectations from 2.4 to 2.1 percent on March 11 in a first re-evaluation based on the impact of the deadly virus.
The new projection leaves Brazil on the verge of its first recession since 2015-16.
Source: AFP