Social inequality and poor income distribution have worsened in Brazil since the beginning of the pandemic. The 25th Anniversary Special Edition of the 2021 World Wealth Report (in the original, World Wealth Report), prepared by Capgemini and released in Paris on Thursday (1), shows the dynamics of wealth growth in the world and launches an alert for Brazil. The study found that the global number of high-income individuals grew by 6.3% in 2020, surpassing the 20 million mark. Their combined wealth grew 7.6% in 2020, reaching the value of almost US$ 80 trillion.
In Brazil, however, the number of millionaires decreased by 6.6%. There were 198,800 Brazilians in this condition in 2019 and, last year, the number closed at 185,600. Even with this drop, the concentration of resources increased from US$4.766 billion to US$4.779 billion. It may seem like little, but it is necessary to take into account two macroeconomic factors to better contextualize this number: the drop in GDP was 4.1%. And the real had a strong devaluation against the dollar.
“The economic scenario in general was not positive in 2020, especially due to the effects of the pandemic”, said Fabio Cossini, from Capgemini Brasil. According to him, this was reflected in the general indicators of the local number of high-income individuals. “The recovery at the end of the second half of the year slowed down the fall in GDP a little, but it was not enough or fast enough as in other countries to improve the indicators”, he said.
In the social field, the study emphasizes the high unemployment rate in Brazil. In 2019, 12.1% were unemployed in the country. The most recent data, released by the IBGE last week, points to 14.7% of the economically active population, which is equivalent to 14.8 million people.
What the coldness of these numbers does not say is that Brazil continues to accumulate social problems and has one of the highest levels of inequality in the world. If these are factors that inhibit the rise of individuals with incomes above $1 million, their consequences could be devastating for society. As the chairman of the board of Fundação Dom Cabral, Emerson de Almeida, stated in an interview with DINHEIRO, “The lack of resources, employment and hunger can put an end to the friendly style of the population. There are threats that can be born of a social upheaval”
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