Coronavirus plunges Brazil into recession

Coronavirus plunges Brazil into recession
Fecha de publicación: 
2 September 2020
Imagen principal: 

Brazil's economy contracted by a record 9.7 percent in the second quarter of 2020, plunging into recession as coronavirus lockdowns hit home, according to the official statistics agency in Brasilia.

"The GDP is now at the same level as late 2009, at the height of the global financial crisis," the Brazilian Institute of Geography and Statistics (IBGE) said in a statement.

It was the biggest drop since the current system of records began in Brazil in 1996.

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