The World Bank forecast Brazil’s recession will extend into a third consecutive year, while Venezuela takes the world’s deepest plunge in 2016. The two will drag Latin America into back-to-back economic contractions for the first time in more than three decades.
Brazil will contract 4 percent in 2016 and 0.2 percent next year, with the 2017 outlook revised from a prior forecast for a 1.4 percent expansion. Venezuela’s economy is seen shrinking 10.1 percent this year, more than double the multilateral’s prior estimate and the worst performer among all countries tracked by the World Bank.
