Brazilian economy grew well below the global average during the pandemic, says survey

The calculations were made by economist Sergio Gobetti at the request of the newspaper Estadão. The study reveals that Brazil occupies the 32nd position in a ranking of economic growth of 50 countries in the last three years.

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Between 2019 and 2021, the US economy grew 1,45% per year; Eurozone countries, 1,25%; and Asia, 2,17%.

The epicenter of the pandemic, China grew 5,4% per year in the last three years. The comparisons contradict arguments from the current Brazilian economic team, which highlights favorable data in an election year.

“We used to say that the 1980s were the lost decade due to the fact that the Brazilian economy grew less than 2% per year, but now we discover that the real lost decade is the one we are living in”, says Gobetti.

Even if GDP grows close to the 3% estimated by Economy Minister Paulo Guedes, the pace will be lower than that of the rest of the world, according to IMF projections, which estimate expansion of 3,2% for the world economy in 2022.

Officially, the Ministry of Economy projects an increase of 2,7% this year.

Source: Estadão Content

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