Synthesis of the Brazilian Economy

BRAZIL ECONOMICS - Report 05 Sep 2023 by Affonso Pastore, Cristina Pinotti, Paula Magalhães and Diego Brandao

The approval of the fiscal framework and the first round of the tax reform have left “debts” that have been negotiated in a type of arm-wrestling match between Lula and Lira, with results increasingly favorable to the latter’s objectives, as expected. The retribution for the approvals has entailed allotting growing portions of the secret and non-secret budgets, appointment to positions in the direct and indirect public administration and other blessings. The public machinery and bodies have lost transparency and efficiency, with positions distributed to neophytes, chosen for their political weight, and the pressures on the public purse have increased, like in the model previously tried by the PT, with grim results for the country.

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