Nearly 200 Brazilian economists, including former finance ministers and central bank presidents, have urged the Brazilian government to speed up vaccination and adopt tougher restrictions to stop the rampant spread of COVID-19.
The signatories of the letter published on Monday decried the "devastating" economic and social situation in Latin America's largest nation. They also attempted to debunk President Jair Bolsonaro's assertion that lockdowns and restrictions would inflict greater hardship on the population than the disease.
"This recession, as well as its harmful social consequences, was caused by the pandemic and will not be overcome until the pandemic is controlled through competent action from the federal government," the letter read.
"It is urgent that the different levels of government prepare to implement an emergency lockdown."
Brazil's gross domestic product contracted 4.1 per cent in 2020, the biggest annual recession in decades. The economists said the fall in activity alone cost Brazil approximately 58 billion reais (USD 10.5 billion), a loss of 6.9 per cent, in tax collection.
The nation had an average of 2,235 deaths a day last week the highest since the beginning of the pandemic. So far, nearly 2,95,000 people have died, the second-largest tally in the world after the United States, according to data from Johns Hopkins University.
Since the beginning of the pandemic, Bolsonaro has fought against restrictions on the economy adopted by state governors and mayors. Just last week, the president sought to lift restrictions imposed in the Federal District, Bahia and Rio Grande do Sul via the Supreme Court, online news site G1 reported.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU