Brazil Enters Recession with Largest Recorded Economic Drop

Brazil’s economy shrunk 9.7% in the second quarter of the year following a 2.5% shrink in the first quarter, thus Brazil has officially entered a recession following its biggest economic drop in history.

The Brazilian Institute of Geography and Statistics stated “GDP is now at the same level as late 2009, at the height of the global financial crisis,”

Brazil currently holds the second highest number of coronavirus infections on earth, second only the United States.

Brazil has currently registered more than 3.9 million infected with the virus, and 121,000 deaths.