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Bolsonaro: reforms will put Brazil among the top 50 countries to do business with

Speaking during the opening ceremony of the World Economic Forum in Switzerland, President Jair Bolsonaro said that his administration’s reform will put Brazil among the 50 best countries to do business in the world. He also defended more integration and economic openness and explained that he wants the country to simplify the lives of those who produce and create jobs.

This was the first time a Latin American president delivered the opening address of the forum. President Bolsonaro took the opportunity to explain his government’s agenda. “Be sure that, by the end of my term, our economic team, led by Minister Paulo Guedes, will put us in the ranking of the 50 best countries to do business with,” he said.

The president also explained that the government is working to reduce the tax burden, streamline standards, and make the lives of those who want to produce, do business, invest and create jobs easier. “We will work for macroeconomic stability, respecting contracts, privatizing and balancing the public budget,” he argued.

He assessed that Brazil is still a relatively closed economy to foreign trade and argued that it is necessary to change this. “It’s one of the biggest commitments of this administration,” he said. “We will seek to integrate Brazil into the world by incorporating the best international practices,” he said.

Environment and economic development

During his speech, Bolsonaro explained that his administration’s agenda also includes efforts to harmonize the preservation of the environment and biodiversity with economic development. He also said that the government will protect the right to life and private property and promote an education that will prepare our youth for the challenges of the fourth industrial revolution. He argued that the quest for knowledge can reduce misery and poverty.

“Get to know our Amazon, our beaches, our cities, and our Pantanal. Brazil is a paradise, but a largely unknown one,” said the president. “We will invest heavily in public security so that you will visit us with your families. We are almost unrivalled in natural beauty, but we are not even among the 40 most visited tourist destinations in the world,” he argued.

 

 

  • Brazil Gov News 

President sanctions law creating endowment funds

President Jair Bolsonaro sanctioned a law on Monday (January 7) that allows the creation of endowment funds, as a way to encourage private donations to projects of public interest. With the decision, the areas of education, science, technology, research and innovation, culture, health, environment, social assistance, and the sport will be strengthened.

In practice, all money donated by individuals and private companies, along with the income received from their investment, will be passed on to institutions and projects of public interest, increasing the sustainability of important public policies.

Made up of private donations, endowment funds invest the money in the financial market to generate continuous revenue for public projects. These investments are based on good practices and clear rules, with guaranteed transparency. The proceeds of the investment in the financial market, plus the donations themselves, guarantee the execution of the projects.

The law sanctioned by the president explains how these funds will be created, managed and monitored. It also determines the rules for investments and the use of the funds for the maintenance and execution of projects and public policies.

The sanction converts into law Provisional Measure 851/18. The text has been sanctioned with five vetoes and creates a regulatory framework for the raising of private funding for endowment funds.

 

ISSUED BY: BRAZIL GOV

Bolsonaro Administration – economists react with optimism

Economic agents reacted with optimism on the first day of President Jair Bolsonaro’s administration. The positive signs of the new management in relation to measures to control public spending and the political movements that may favor the adoption of important reforms, such as the Pension Reform, caused an energetic reaction from the market. The Ibovespa (the benchmark index of the São Paulo Stock Exchange) surpassed the mark of 91,000 points on Wednesday (January 3rd), a historical high.

Economists heard by the Brazilian Government portal assessed that the initial statements by Economy Minister Paulo Guedes and the government team buoyed the financial market, mainly because they reinforced the need for Pension Reform and the adoption of the concessions program. They also said that the political environment is initially favorable to the approval of economic measures by the National Congress.

“There was excitement in the markets because the government endorsed the economic message he defended during the election campaign, that it will adopt an austere stance on spending controls and the issue of concessions. That had a positive impact,” said Austin Ratings chief economist Alex Agostini.

“There is also a positive expectation that the Bolsonaro administration and its economic team can succeed in approving pension reform in the first half of the year,” he said. “The markets have been encouraged by signaling to the government itself that it is on the right track,” he said.

Support

Although pension reform is a controversial issue, analysts have gauged Bolsonaro’s popular support, which may have positive effects on the adoption of the economic agenda. “We say receptiveness not only in the statements by Paulo Guedes [Minister of the Economy], but also from a set of news, such as the possibility of privatizing Eletrobras,” explained Silvio Campos Neto, an economist at Tendências Consultoria.

 

BRAZIL GOV NEWS

BRICS: We recommit ourselves to the full implementation of the Paris Agreement

Argentina played host of the 2018 G20 summit – the meeting concluded on Saturday. Leaders of the fastest growing emerging economies, BRICS met for the first time since the election of Jair Bolsonaro as Brazil’s President on the sidelines of the G20.

The grouping’s leaders released a statement saying that they are recommit themselves to the full implementation of the Paris agreement.

The Paris Agreement is an agreement within the United Nations Framework Convention on Climate Change (UNFCCC), dealing with greenhouse-gas-emissions mitigation, adaptation, and finance, starting in the year 2020.

The statement was a response to Bolsonaro’s threat to quit to withdraw Brazil from the Paris Agreement.

The Brazil newly elected President has also failed to honour the promise to host the crucial UN Climate talks (COP25) in 2019. Bolsonaro abandoned the plans to host two months after the country agreed to host.

 

By: Kgothatso Nkanyane

Brazil’s newly elected President Bolsonaro reverses controversial statements

Brazil newly elected president, Jair Bolsonaro has reversed a number of controversial statements he made during his campaigns for election and after. As soon as Bolsonaro was elected, he pledged to remove the Ministry of Labour and replace with a Ministry of Economy as prepared to announce a new government, by January.  He also pledge to merge the Ministry of Agriculture with Environment.

The newly elected President has since his election reconsidered the statements he made, following a public outrage.

Bolsonaro focused his campaign on combating crime and corruption and that led to him getting elected. However, “his high name recognition was earned by making outrageous remarks disparaging blacks, natives, women, and the LGBT community, and his unpopularity is increased by his calls for intervention by the armed forces and his idolatry for the military, praising infamous characters of the former regime, including Colonel Carlos Alberto Ustra, who had personally tortured Ms. Rousseff and many others with electric shocks and beatings,” writes Patricia Barbeyron, a strategic affairs consultant.

Bolsonaro had to step back statements of scrapping the Paris Environmental Agreement because regional allies warned against the measure.

 

Source: The BRICS Post

Balsonaro’s appointment forecasted to boost Brazil markets

Former military officer and congressmen Jair Bolsonaro has been elected as the new president of Brazil. Bolsonaro won the elections in a second round runoff with a 55.1% of the vote against rival Fernando Haddad achieved 44.9% of the vote.

Jair Bolsonaro is  a member of the Social Liberal Party (PSL) and he has pledged to bring crime levels down, stop corruption and shrink the size of government. Jair Bolsonaro is known for his controversial statements about women, minorities, homosexuality and Brazil’s dictatorship past.

According to businesslive.co.za Brazilian markets seem to be welcoming the news as Bolsonaro has promised to help local business thrive by lowering bureaucracy, tightening fiscal spending and cutting the federal government’s budget deficit. Brazilian markets as well as the currency are forecasted to gain a boost because of Bolsonaro’s appointment.

Bolsonaro’s views and how he’ll handle Brazil’s relationship with China is still to be determined. President elect Bolsonaro has previously criticized China and Chinese companies for their predatory practices only time will tell how the relationship will develop as his term progresses.


By Mokgethi Mtezuka

Brazil’s presidential candidate Jair Bolsonaro surprises with an overwhelming election lead

Former army captain, Jair Bolsonaro has taken the lead in the Brazilian presidential election. Bolsonaro comes with campaign promises of lowering crime, corruption and the moral rot of the country.

Jair Bolsonaro is leading in the polls with 47% of the votes. If he accomplishes to get over the 50% mark, then he will become the elected president of Brazil without the need of a second-round runoff.

His closest competitor Fernando Haddad is sitting at 28%. It is however clear that if it does go to the second-round runoff then Jair Bolsonaro will probably win.

Bolsonaro so far has outrun his competitors who have poured more money in to the election, who have as well  have had more institutional support and television airtime.

Jair Bolsonaro also survived an assassination attempt where he was stabbed.  Support for Bolsonaro grew since the stabbing.

 

Source: time.com

Brazil’s shares surge as presidential candidate Jair Bolsonaro gains ground

The Brazil elections are only a few days away and presidential candidate Jair Bolsonaro is taking the lead and is expected to make it to the second round. The Brazilian stock exchanges has been positively impacted with the rise in poll numbers of Jair Bolsonaro.

The iShares MSCI Brazil exchange-traded fund (EWZ) saw an increase 5.6% to match its 24 January best, while the Brazilian Bovespa index grew by 3.8% its biggest since 7 November 2016. The runoff election is expected to take place on October the 28 because none of the candidates are predicted to win majority vote in the first round.

Bolsonaro market-friendly policies are the main reasons for the boost in Brazil shares. Opponent Fernando Haddad, leader of working party is widely expected to return to not so favourable party policies which will lead to ballooning fiscal deficit and contributed to an unsustainable pension system.

Bolsonaro is also believed to have the best economic advisers with better understanding of the economic conditions face Brazil at the moment.

 

Source: cnbc.com

Jair Bolsonaro increases lead in Brazil elections

Jair Bolsonaro is starting to look like the clear favourite for the Brazilian presidency carving out a 10-point lead over his closest rival Workers Party candidate Fernando Haddad. Polls are suggesting that they will tie in the second-round runoff.

Bolsonaro is also recovering from an assassination attempt where stabbed near-fatally. 31% percent of voters expecting to support him for the first round, while Haddad has 21% of voter support. The second-round runoff is expected to take place on Oct 28 only required if no candidate wins with a majority.

 

Source: reuters.com

Brazil elections close and unpredictable

Brazilians will be making way to elections in the month of October. 147 million Brazilians will be partaking in the presidential elections. The race so far has been far from ordinary, with an assassination attempt on Jair Bolsonaro who’s currently leading in opinion polls. Bolsonaro currently in recovery.

Second in the polls, former Sao Paulo mayor Fernando Haddad who surpassed former president, Lula da Silva who is in prison serving a 12-year sentence on corruption charges. Lula was made ineligible by electoral court earlier this month for president, before that he was leading in the polls.

It is expected that Jail Bolsonaro and Fernando Haddad will make the second-round runoff taking place on the 28 October. Bolsonaro is said to be leading by 27% in the polls, while Haddad has a 21% lead over the third place candidates Ciro Gomes who only has 12% of the opinion polls. To qualify for the second around runoff candidates will have to gain more than 50% of the vote.

In the end the winner may come down to who voters rejected the least, and which candidates can make the oppositions undesirable to the voters. If no candidate gets 50% then all candidate moves to the second-round runoff to decide who will become Brazil’s next president.

 

Source: aljazeera.com