1. Brazil – Government Policies Social, Fiscal, Monetary, Environment and Energy Policies Whitney Hamnett Pirkle Bhushan Holê Niraj Shah David Welguisz Ben Carter Nisarg Mehta

2. Governmental Structure

3. Social Policies

4. Fiscal and Monetary Policy  Fiscal  Tax codes  Infrastructure spending  Healthcare spending  Education Spending  Monetary  DRU –Bank reserve ratio  Inflation target  Central bank Emerging Market – Agriculture, cattle, commodities Challenge  Global economic uncertainty (Euro,China,US)  World cup and Olympics spending  Balancing fiscal and monetary policies

5. Energy and Environment Energy policies  Focus on energy efficiency and renewable energy  Petrobras- Tupi oil reserves  Bioenergy - Ethanol  Price control – CIDE tax Environment  Balance growth with environmental protection  National climate change plan – stop deforestation  Tax on carbon emission  Reduce nuclear power  Challenge: Can a democratic elected country enact policies to protect the environment?

6. Energy and Environment

7. Open Borders vs. Protectionism Open Borders  Require external capital for sustain growth  Encourage foreign investments  Energy sector  Telecom sector  Reciprocity  Example – visa fees Protectionism  Protect Local Industries and Jobs  Payroll tax cuts and subsidies  High Import Tariffs  Currency Manipulation

8. Take Aways  Dynamic, complex emerging power  Interdependent government policies  Economy vs. Social  Energy vs. Environment  Open border vs. Protectionism  Challenge – Balancing act

9. Thank you