(Analysis) From 2016 to 2022, Brazil’s economy, under Presidents Michel Temer and Jair Bolsonaro, shifted towards privatizing state-run businesses. State enterprise numbers shrank dramatically during this period, dropping from 228 to 122. The government implemented a crucial law in 2016 that limited political appointments, improving governance. With the return of President Luiz Inácio Lula da […]
Related Posts
Argentina reasserted its claim to the Falkland Islands, which is rejected by Great Britain
The Argentine government reaffirmed its objection to the UK’s control over the Falkland Islands (Malvinas Islands), stating that reclaiming sovereignty over this South Atlantic archipelago is deeply ingrained in every Argentine’s essence. Argentine Foreign Minister, Santiago Cafiero, showcased the government’s stance at the international exhibit held at the “Tecnópolis” fairgrounds by the Foreign Ministry, emphasizing […]
Brazil’s Major Federal Enterprises Not in Top Form under Lula
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 […]