Brazilian GDP grows only 1.1% at the beginning of Bolsonaro's government

The Gross Domestic Product (GDP) Brazilian had big drops in 2015 and 2016. While in the first year, the drop was 3.5%, in the second, the shrinkage was 3.3%. However, over the next three years, things changed. That's because the economy has started to recover. Still, we can't say that things are going excellently well. That's because last year's growth was lower than that of the previous two years.

In 2017 and 2018, GDP grew by 1.3%. However, in the first year of Jair Bolsonaro's government, the growth was only 1.1%. Therefore, the fall of 2015 and 2016 has not yet been overcome. In order to understand this slowdown in the Brazilian economy, it is necessary to consider the decrease in spending and investments by Brazilians. Continue reading this article to learn more about the Brazilian GDP last year!

More information about the Brazilian GDP in 2019

It is important to consider, however, that the Brazilian GDP continued to grow, albeit at a slower pace. This evolution is mainly due to the increase in household consumption in our country (1.8%). This data was informed by the coordinator of the National Accounts of the Brazilian Institute of Geography and Statistics (IBGE), Rebeca Palis.

In addition, she stated that agriculture grew by 1.3%, the services sector advanced by 1.3% and industry increased by 0.5%.

In case you are curious, the current GDP figure is R$ 7.3 trillion. This data was released by the IBGE this Wednesday, 04. According to the institution, the Brazilian economy is currently at the same level as the third quarter of 2013.

It is also important to mention that the slowdown in GDP growth in our country is not due to the coronavirus outbreak. This is because, even before the epidemic started in China, the Brazilian economy was not having a good result.

Final considerations

Having said that, we News Report we hope to have clarified the main information about the GDP in 2019. It is important to highlight that it was in the first year of Jair Bolsonaro's government that the growth of the country's economy began to slow down.

That said, comment what you think of the GDP of our country last year. Tell us if you expected any different performance from our economy or if you were already waiting for this slowdown. Finally, keep following our website to learn more about the main subjects related to Brazil and the rest of the world!

 

Source: wow