Country Development Challenges: Route Toward Sustainable and Inclusive Growth
Brazil was already facing a sluggish economic recovery prior to the COVID-19 pandemic. Between 2014 and 2016, the country experienced a deep recession marked by substantial drop in economic activity combined with a reversal of recent gains in social indicators. From 2017 to 2019, GDP growth was unable to fully recoup the losses incurred during the recession. In recent decades, Brazil has repeatedly experienced this pattern, with a sharp decline in economic activity followed by an anemic recovery.