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Final week, the federal authorities’s resolution to breach Brazil’s federal spending cap — one of many nation’s handiest austerity controls — spooked buyers and led to among the São Paulo inventory alternate’s worst performances in 2021. However benchmark indexes roared again on Monday, additionally because of authorities motion. Shares of oil big Petrobras jumped virtually 7 p.c after President Jair Bolsonaro prompt its privatization was “on the federal government’s radar,” a press release later endorsed by Economic system Minister Paulo Guedes.
Discuss of handing Petrobras over to the personal sector is little greater than a pipe dream, rehashed…
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