Losses of R$2 Billion/Week Expected During São Paulo State Quarantine

In São Paulo city alone more than 117,000 stores are required to close, sending more than 353,000 people home.

SÃO PAULO, BRAZIL – The cost of bringing the state of São Paulo to a total standstill may cost R$2 billion per week, according to estimates by economics professor Rodolfo Olivo. The state's governor, João Doria, has ordered the halt of all non-essential services throughout the state for fifteen days starting on Tuesday, March 24th. The quarantine, however, may be extended, leading to even greater losses.

“Sectors such as real estate, cultural, sports and education will be the most affected and may fall by more than 90 percent,” Olivo, who is a professor at FIA . . .

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