Brazil Roundup: Private sector development, real estate tax, ancestral lands

Private sector development

Brazil has joined the Lusophone Compact to boost private sector development in Portuguese-speaking African countries. The initiative aims to strengthen economic ties through investments, trade, and cooperation. The African Development Bank has already approved investments in energy, transport, and enterprise development projects in these countries. Brazil's membership will further strengthen South-South Cooperation under the Compact. According to the African Development Bank Group, the move is seen as a testament to Brazil's strategy to deepen economic and political ties with African countries.

Debt relief program

Brazil has announced a credit and debt relief program for small and medium-sized enterprises (SMEs). The program aims to support SMEs by providing access to key information, analysis, reports, news and interviews in English, Spanish and Portuguese, reports media agency Bnamericas. This includes access to over 31,000 projects in Latin America, 39,000 global companies operating in the region, and 95,000 key contacts related to companies and projects.

Tax collection

Brazil's tax collection slowed in March, posing a challenge to the government's budget target. Analysts describe the data as "disappointing," as the government aims for a balanced primary budget this year. Bloomberg indicated that despite setting a record for this time of year, collection growth slowed from the previous month.

Ancestral lands

Brazilian Indigenous people are demanding demarcation of their ancestral lands, as they fight against a proposal that seeks to limit their rights. According to reports from TeleSur, the Temporal Framework declared unconstitutional in 2023, was reintroduced, leading to violence and the murder of Indigenous leaders. The Brazilian government, under Jair Bolsonaro, has stopped demarcating Indigenous lands, leaving them vulnerable to extractivist businessmen. The Indigenous community hopes the Supreme Court will declare the law unconstitutional.

Real estate tax

Brazil has launched a public consultation on charging real estate tax for concession assets, including railway, port, highway, and airport operators. This move is part of the federal government's efforts to attract private investment in infrastructure projects. The consultation will also involve local government and law firms, and subscribers can access key information about projects and companies in Latin America, reports media agency Bnamericas.