Brazil’s Economy Returns to Pre-Pandemic Levels Claims Central Bank Index

The IBC-Br economic index indicates that Brazil’s economy has bounced back from pandemic-related decline and is now back to the size it was 5 years ago.

Brazil managed to clock a 1.04% seasonally adjusted increase in gross domestic product for the month of December, well ahead of the forecasted 0.4% increase. 

IBC-Br’s seasonally adjusted index for January was 140.3, higher than the 140.2 from February of 2020, just one month before the COVID-19 pandemic sent much of the world’s economy into turmoil. Brazil’s economy has not shown this kind of growth since May 2015.

Numbers released by the IBC-Br show that Brazil is still 5.7% behind its all-time peak, which it achieved in December 2013.

Brazil still has considerable hurdles to contend with as a second wave of COVID-19 is slated to hit the country in the coming weeks. Unemployment numbers are still at record highs, and a recent infusion of government aid will be only a fraction of what was payed out last year according to reports.

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