Brazilian Fiscal Way (Stuber)

Brazil: The Brazilian way to comply with the fiscal goal of the year by Walter Stuber indicated by Luiz Villela (01/2013). The local newspapers reported an interesting engineering financing transaction structured by the Brazilian Government aiming to increase revenues in last December and ensure compliance with the fiscal goal of the 2012. This transaction involves three important players: the Brazilian Development Bank (BNDES) – the main financing agent to the economic and social development of the country; the Federal Savings Bank (CEF) – the second biggest Brazilian government-owned bank; and the Brazilian Sovereign Wealth Fund (FSB) – whose main objective comprise promoting investments in Brazil and abroad, generating public savings, mitigating the effects of economic cycles, and fostering strategic projects at home and abroad…” – Read the primary measures at the Official Gazette on: