In 2023, Brazil’s major federal companies, including Petrobras, Banco do Brasil, BNDES, Caixa, and Correios, saw their profits drop by 24% to R$182 billion ($36.4 billion). This downturn occurred in the first year of President Lula’s third term. Petrobras notably experienced a 33% reduction in profit to R$124.6 billion ($24.92 billion). However, the oil giant […]
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