Summary Brazil's economy shrank 3.6% in 2016 while the economy shrank by 3.8% in 2015
WEB DESK (Dunya News) – Brazil is going through the worst recession in its history as the country experienced the eight consecutive quarters of contraction.
According to the recent stats, Brazil s economy shrank 3.6% in 2016 comparatively better than the previous year when the economy shrank to 3.8% in 2015.
Furthermore, the figures are a point of great concern as the country faces the longest recession with eight quarters of contraction in a row.
The financial figures for the Latin American country reveal that the unemployment hit 12.6% in January while in 2015, it was 9.5%.
Experts are of the opinion that despite the hints of a recovery underway, the life of ordinary Brazilians is showing no signs of improvement.
