iStock/Thinkstock(Brasília, Brazil) — BBC News reports Brazil, which has been in a recession for two years, is experiencing the steepest economic decline the world has ever seen. It has went through 24 straight months of negative growth and declined to a point that has never happened since economic records began.
The country’s umeployment has reached 12.9 million people, a rise of 76 percent over the past two years. The economy is eight percent smaller than it was in December 2014.
Analysts expect the economy to pick up from here, according to BBC News.
Brazil’s experienced a sharp economic drop following a fall in commodity prices and corruption at the highest levels of its government. The country’s former president, Dilma Roussef, was impeached Aug. 31, 2016 for illegally manipulating government accounts.
Copyright © 2017, ABC Radio. All rights reserved.