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Brazil Risks Lost Decade Without Fiscal Reforms, OECD Says

Brazil Risks ‘Lost Decade’ Without Fiscal Reforms, OECD Says Bloomberg 12/16/2020 Andrew Rosati, Martha Beck and Mario Sergio Lima (Bloomberg) Brazil must cut spending and mandatory obligations to avoid a “recession like in the lost decade of the 1980s,” according to a study conducted by the Organization for Economic Co-operation and Development. With debt levels soaring following the government’s pandemic-driven aid package, sustained growth hinges on fiscal adjustments and compliance with public expenditure rules, the OECD warned in an economic survey of Brazil published Wednesday. “Without strong action financing costs could rise substantially, jeopardizing fiscal sustainability and depressing investment,” the Paris-based organization said.

Guedes confident Brazil can help the vulnerable and ensure the spending cap

Full article In public testimony to Congress Guedes noted that this year’s emergency income transfers to the poor made during the coronavirus pandemic, will end on Dec. 31 The Brazilian government has the financial tools to support some of the country’s most vulnerable people next year without threatening the spending cap, its most important fiscal anchor, Economy Minister Paulo Guedes said on Friday. In public testimony to Congress Guedes noted that this year’s emergency income transfers to the poor made during the coronavirus pandemic, will end on Dec. 31, but ways could be found to extend help without breaking its fiscal rules.

Guedes Confident Brazil Can Help Vulnerable People and Maintain Spending Cap

Guedes Confident Brazil Can Help Vulnerable People and Maintain Spending Cap
riotimesonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from riotimesonline.com Daily Mail and Mail on Sunday newspapers.

Brazil Senate Approves Reform of Gas Sector Including Break Up of Petrobras

Reuters Your browser does not support the audio element. Brazil s Senate on Dec. 10 approved the basic text of a bill to further open up the natural gas market to private competition and break the monopoly held by state-controlled oil company Petroleo Brasileiro SA (Petrobras). The new legal framework changes natural gas distribution from a regime of concessions by the government to one of authorizations by the country s oil and gas regulator, ANP, thus reducing bureaucracy for building pipelines. The bill will also open up competition by changing the vertical structure of the gas sector so producers cannot be distributors and vice-versa.

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