Rio de Janeiro, Jan 9 (TIWN) Brazil's President Jair Bolsonaro will not attend the upcoming World Economic Forum at Davos in Switzerland, presidential spokesperson Otavio Rego Barros has said.

"The President and his assistants analyzed a series of aspects -- economic, security, political. And those aspects, together, allowed the President to evaluate that he should not participate in this forum at this moment," Rego Barros said.

Bolsonaro mentioned the possibility of not attending the summit earlier this week, citing security reasons.

The World Economic Forum, held annually at Davos, is a meeting in which world leaders discuss economic matters. This year's summit will take place on Jan. 21- 24. Bolsonaro attended the World Economic Forum in 2019.