Brazil and Argentina negotiate 20% slash in Mercosur import tariffs

Mr. Guedes considers essential to reduce the TEC before the end of 2021. In a recent meeting with representatives of the Coalition Industry, the minister announced his intention to reduce Mercosur import tariffs by 20%. He said that this cut will increase Brazilian competitiveness by cheapening inputs used in production processes and will help to fight inflation.

Source: Valor International

Without pandemic, Brazil would have deficit, but $104 bn lower

Brazil spent more than it collected R$ 743.1 billion ($138 bn), equivalent to 10.03% of GDP and a “loss” almost 8 times greater than that recorded in 2019, of R$ 95 billion ($18 bn), taking into account the primary result, which does not account interest expenses on the debt. The Brazilian Institute of Economics of the Getulio Vargas Foundation (Ibre-FGV) calculated the participation of the “pandemic effect” in the total: of the deficit, R$ 561.3 billion ($104 bn) refer to measures taken to try to cushion the impact of the health crisis.

Source: UOL Economia

Enel starts operating 133 MW expansion of São Gonçalo solar park

Enel Green Power announced the start of commercial operation of the 133 MW expansion of the São Gonçalo solar photovoltaic park (475 MW), which was already in operation since January 2020. The venture is considered the largest photovoltaic installation in South America and is located in the municipality of São Gonçalo. The Company invested R$ 422 million ($78 mm) in the construction of the second part of the undertaking.

Source: Energia Hoje

Brazilian startup education receives injection of $83 mm

Startup of preparatory courses for Enem and university exams Descomplica announced that it has received an investment of R$ 450 million ($83 mm), illustrating how digital education in Brazil has been gaining the attention of investors, after the Covid-19 pandemic accelerated a movement already booming. The investment, led by Invus Group and SoftBank, will be used in Descomplica College, for acquisitions and development of new products, the company said in a statement.

Source: Money Times