The decline in GDP is the largest of the current historical series started in 1996 and the largest since 1990, when another series was in force and the economy shrank by 4.3%, the IBGE said. GDP for the fourth quarter of last year fell 1.4% compared to the previous one.
The country’s economy in August will host the Olympic Games in Rio de Janeiro, would fall by 3, 7% and 4.1% this year, according to the latest forecasts by the government and the Central Bank, which would produce the first biennium recession since the 30s.
(FIN) AFP / INT
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