Brazil Information Technology Q4 2020
The core scenario is for Brazil's IT market to stabilise in H220, with the relaxation of lockdown restrictions at the city andstate level that allow for a resumption of private sector projects and see sentiment recover as retail reopens. The forecast for 2020as a whole is, however, still for a sharp contraction in US dollar IT market value because Brazil is one of the hardest hit economies inthe region due to the disjointed and ineffective public health policy response. The potential for recovery from 2021 exists given theexpected arrival of a Covid-19 vaccine, but the IT growth outlook is relatively modest over the 2021-2024 period because ofstructural headwinds facing the Brazilian economy that will weigh on private sector investment. Risks are also weighted to thedownside because of the potential for another surge in infections, or lasting effects from the acute phase of the public health crisis,such as persistently elevated levels of precautionary saving.
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