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Brazil GDP decline set for less than feared at 5.8pc, IMF says | Malay Mail

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WASHINGTON, Oct 6 — Brazil's economy is set to shrink by 5.8 per cent in 2020, the International Monetary Fund said yesterday, revising up an earlier forecast but warning the country faced “exceptionally high” risks. “The economy is projected to shrink by 5.8 per cent in 2020, followed by a...

Women look at job listings posted on a light pole in downtown Sao Paulo, Brazil September 30, 2020. — Reuters pic

The report released yesterday revised upwards the more pessimistic forecast of a 9.1 per cent contraction in June. “The strong policy response averted a deeper economic downturn, stabilised financial markets, and cushioned the effects of the pandemic on the poor and vulnerable.” The Washington-based Fund recommended the government “be prepared to provide additional fiscal support” if health, economic and social conditions were to worsen.

 

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