RIO DE JANEIRO, BRAZIL - Brazilians' savings, after reaching a record high in 2020 due to the uncertainties generated by the pandemic, registered its first negative balance in the last five years in 2021, apparently due to the need to compensate for the loss of income, the Central Bank reported Thursday.
The value withdrawn by Brazilians from their savings accounts last year exceeded R$35.5 billion (US$6.4 billion) that were deposited in the same accounts, according to data released by the issuing agency.
This is the first negative annual result since 2016 when withdrawals exceeded deposits in savings . . .
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