The Brazil Business and Politics Round-up April 2nd 2018

Politics

  • 2017 was a record for the apprehension of contraband goods and merchandise in Brazil: The Federal Revenue Service seized US$ 693 million in unregistered merchandise; This is the largest amount since 2010 and represents an increase of nearly 10% over 2016
  • Brazil’s former president ended his caravan campaign in the south of the country with an event in Curitiba attended by thousands of people – which also had moments of tension
  • Supreme Court Justice Authorizes Maluf to Serve Sentence in House Arrest Former mayor of São Paulo has been in the jail of Papuda, in Brasília, since December 2017; In his decision, Justice Toffoli said that Maluf’s defense presented documents that prove that the congressman “is having severe problems related to his health in prison”

Business

  • Construction Firm Odebrecht Signs Public Contract for First Time since Operation Lava Jato Began The firm won a bid to modernize a unit of the Santa Cruz thermoelectric plant in Rio de Janeiro, which belongs to federal state-owned company Furnas, a subsidiary of Eletrobras; The Furnas contract is worth approximately US$ 180 million
  • Informal Sector Employment Becomes Obstacle for Brazil’s GDP in 2018 Last year, all 1.8 million jobs created belonged to the informal sector; The average income of workers without work permits, sometimes referred to as workers who are “on their own”, is half the income of formal sector worker.

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