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Brazil GDP fell 4.1% in 2020, less than forecast but worst in decades

RIO DE JANEIRO, BRAZIL - Brazil’s economy shrank last year by 4.1% amid the pandemic, data showed on Wednesday, March 3rd, the worst drop in decades, but not as much as originally expected due to cash transfers to the poor.

Latin America’s largest economy grew by 3.2% in the fourth quarter, according to official statistics agency IBGE, more than the 2.8% median estimate in a Reuters poll of economists.

Still, a second wave of COVID-19 has killed Brazilians in record numbers in recent weeks, clouding the economic outlook and adding to fears of a renewed . . .

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