The Economist
Hospitals are full, favelas echo with gunfire and a record 14.7% of workers are unemployed. Incredibly, Brazil’s economy is smaller now than it was in 2011—and it will take a lot of strong quarters like the one reported on June 1st to repair its reputation. Brazil’s death toll from covid-19 is one of the worst in the world. The president, Jair Bolsonaro, jokes that vaccines might turn people into crocodiles.
Brazil’s decline was shockingly fast. After the military dictatorship in 1964-85, the country got a new constitution that returned the army to barracks, a new currency that ended hyperinflation and social programmes that, with a commodity boom, began to ease poverty and inequality. A decade ago the country was flush with oil money and had been awarded the 2014 World Cup and the 2016 Olympics. It seemed destined to flourish.
Acesse: www.jacksoncampos.com.br
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