Central Bank statistics department head Fernando Rocha said that the global pandemic caused recession in the country, in the demand for imported goods and services, and generated a reduction in the deficit of current transactions,
The decision made Wednesday (20) brings Selic to the lowest level since the beginning of this time series for the Central Bank, initiated in 1986.
The key variables behind the result are linked to the prices of goods in the domestic market, favorable exports for grains and meats, and the production of the 2020 harvest.
The prosecutors are concerned not only with the plight of workers from the closed plants, but with the production chain of suppliers that will be impacted by the changes.
Agribusiness is reported to have accounted for 48 percent of Brazilian exports in 2020. The expansion stems from a 9.9 percent growth in the amount of products, as the price fell 5.3 percent.
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