The coup pushed 7,3 million Brazilians back into poverty.

247 - Brazil is poorer after the coup. A World Bank report reveals that the percentage of Brazilians living on less than US$5,50 a day rose from 17,9% to 21%, meaning poverty in Brazil increased by three percentage points between 2014 and 2017. An additional 7,3 million Brazilians began living on less than US$5,50 a day during that period.

"Given the mediocre performance of the region, particularly South America, a worsening of social indicators is not surprising," the report points out.

The World Bank has lowered its economic growth forecast for this year to 0,9%, citing "fragile or negative" development in Brazil, Mexico, and Argentina, as well as what it called a "tragic collapse" in Venezuela. Six months ago, the organization's forecast for the region was 1,6% growth for this year.

Excluding Venezuela, however, the World Bank forecasts that the Latin America and Caribbean region will grow by 1,9% in 2019 and 2,7% in 2020.

For Brazil, the projection for this year is for growth of 2,2%, higher than the average of estimates from financial institutions compiled weekly in the Central Bank's Focus report. This week, for the first time, economic growth projections fell below 2%. At the beginning of January, the estimate was 2,53%.

For Argentina, which began the year immersed in a severe recession, the projection is that GDP will fall by 1,3% this year, less than the contraction in 2018, which was 2,5%. And for Mexico, the organization expects growth of 1,7% in 2019.

"Social programs that help absorb the impact of economic crises are common in developed countries, but they are not sufficiently widespread in this part of the world," highlighted the World Bank's chief economist for Latin America and the Caribbean, Carlos Vegh.

Read the full report at The State of São Paulo