As the world’s ninth largest economy with a GDP of nearly 2000 billion dollars in 2019, Brazil is above all the largest economy in South America. A country of continental size, it currently has 212 million inhabitants, making it the most populous nation in Latin America and the fifth most populous in the world.

After 4 years of a severe recession, the country briefly resumed growth in 2018 (1.3%) and 2019 (1.1%), but the Brazilian economy is likely to contract by 5.5% in 2020 due to the emergence of VIDOC-19. This is certainly a gloomy projection but much less pessimistic than in mid-year when analysts were predicting a drop of nearly 10% in GDP.

For the IMF, an upturn is expected in 2021 with growth of around 3%. While all danger of a new epidemic wave cannot be ruled out, vigilance is also required on two other points of attention, the sharp increase in the budget deficit on the one hand and investor confidence, which it will be absolutely necessary to restore, on the other.