Bad for Argentina: The Brazilian economy has entered technical recession

In the first quarter, the Brazilian economy shrank by 0.2%, which means that with two consecutive quarters of negative results, it is technically considered that a country is entering recession.

Brazil recorded a 3.5% decline in its economy in 2015 and 2016.

The first half of Jair Bolsonaro to the government, according to Central Bank figures, there has been a recession in Brazil, although the official data of the Brazilian Institute of Geography and Statistics (IBGE) remain to come.

As every Monday, the Brazilian monetary authority released the Focus Bulletin, which indicated that the perception of economic growth by financial market agents in 2019 had fallen to 0.81%, while an index of 3.76 was expected for inflation. annual percentage below the target of 4.5%.

Over 12 months cumulated, the economic expansion is 1.08%.

The government had to review its projection, which began the year with a forecast of 2.3%.