Category: Public policy

Information related to political affairs that have an impact on Brazil’s economic development.

BNDES invites 8 banks to broker stake in Petrobras

The National Bank for Economic and Social Development (BNDES) has invited eight banks to broker the sale of part of its Petrobras portfolio shares through a public offering of secondary distribution. The operation is expected to be done by March. . The development bank owns about 19% of the preferred shares and 10% of the common shares (as voting rights) of the oil company, which today are worth about R $ 56 billion.

Government studies compensation in case of oil rise

The federal government is considering compensatory mechanisms for a possible rise in fuel prices if the crisis involving the United States and Iran hits the international oil market any harder, said Mines and Energy Minister Bento Albuquerque after meeting with President Jair Bolsonaro. However, he practically ruled out the possibility of instituting some kind of subsidy.

It is possible to increase Brazil’s agribusiness in a sustainable way, “king of soy”

Former senator and two-time governor of Matto Grosso, 63-year old billionaire Blairo Maggi, has been instrumental in the growth of Brazil’s agribusiness sector. He remains a leader of the “ruralist bench”, the agribusiness lobby that dominates Congress and supports President Jair Bolsonaro. In an interview with Al Jazeera, Maggi says that it is possible to increase Brazil’s agribusiness in a sustainable way.

Brazil's Bolsonaro says bill to allow mining on native reserves ready

Brazil’s President Jair Bolsonaro said on Thursday that a bill authorising mining on protected indigenous reserves was ready and only needed to be sent to Congress for consideration. Bolsonaro told supporters that indigenous people should also be allowed to commercially farm on reserves, a practice currently prohibited, and that native populations should be involved in a drive to expand the country’s beef production.

Brazil considers to tax online transactions

Brazil’s Economy Minister Paulo Guedes said he had reached agreement with Congressional leaders on modernizing the country’s complex tax system next year and one option could be taxing online transactions. Brazil has brought its snowballing public debt under control with reform of the costly pension system and spending cuts, he said, while interest rates are at record lows after the central bank cut its benchmark Selic rate to 4.50%.

Oil spill ruining famous coastline in Brazil

For several months, crude oil has been appearing along 3,000km of Brazil’s coastline, and yet its origins remain uncertain. Alongside the limited clean-up efforts, months of confusion about the cause of the spill have spurred criticism of the Brazilian government’s response. This said, the Brazilian Navy has since deployed 8,500 personnel, 30 ships and 17 aircraft in the clean-up operation. Whatever the true cause of the spill, the impact on the environment continues to be felt.