Economy & Business - February 2024

BRAZIL: Lukewarm applause for Lula’s industry plan

Brazil has announced a long-awaited industrial development plan with a R$300bn (US$60bn) budget for the three years left in President Luiz Inácio Lula da Silva’s term. But outside of the National Industry Confederation (CNI), there was little applause for the plan, which was hashed out by Geraldo Alckmin, the vice president and industry minister, as well as the head of the national development bank (BNDES), Aloizio Mercadante.

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