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Coronavirus impact on companies could decrease with government action

Source: https://www.cnnbrasil.com.br/ | From CNN Brazil in São Paulo

The new coronavirus has become a major obstacle for companies. With increasingly restrictive measures on traffic, establishments and industries are finding it difficult to produce and sell their goods.

In the ABC region of São Paulo, local mayors announced the suspension of public transportation. The measure directly affected a mattress company in the region, which saw its online sales plummet by 40%, forcing the company to cut its media investment by 60%.

Faced with the negative scenario, governments around the world have announced measures aimed at accelerating the economy even in the face of a pandemic, such as the cut in the basic interest rate by the Central Bank of Brazil, which fell to 3.75%.

For Elias Sfeir, president of National Association of Credit Bureaus, “It's a fair and appropriate measure, but it still won't give the economy any predictability. ”It's a fair and appropriate measure, but it still won't provide predictability for the economy."

Sfeir also defends other more incisive actions on the part of the government, such as bringing forward the 13th, which he says gives people the chance to “negotiate arrears, as well as discouraging default”.

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