Brazil's economy faces collapse over coronavirus lockdown: Paulo Guedes

Brazil’s economy faces collapse over coronavirus lockdown: Paulo Guedes


Brasilia: Brazil ’s Minister of Economy Paulo Guedes warned on Thursday that Brazil may face an “economic collapse” after a month of domestic measures to curb the outbreak of coronavirus, food shortages and “social unrest” “.

Brazil is the largest economy in Latin America and the center of the coronavirus pandemic in the region.

However, far-right President Jair Bolsonaro appeared with his free market economics expert Guedes, who opposed the measures to stay at home to slow down the virus And said that this unnecessarily hurt the economy.

Guadius said: “In about 30 days, (store) shelves may begin to appear short, production may become chaotic, which leads to economic collapse and social chaos.”

“This is a serious alarm.”

Bolsonaro compared the new coronavirus to the “little flu”. He said he understood the “virus problem” and believed that “we must save lives.”

Bolsonaro added: “However, there is a problem that makes us more and more worried … this is the problem of employment, and the economy has stalled.”

“The harm against the virus should not exceed the virus itself.”

Bolsonaro often flew social alienation measures, took to the streets of Brasilia, and worked close to the rally of supporters.

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