COURT OF AUDIT IN BRAZIL alerts economic agents about the risks of the Brazilian market
Official data from the Brazilian government warns of
about the possible existence of a mediatic bubble on the fundamentals
of the economy in one of the most important countries of the BRIC.
According to the information in the report of the Brazilian Court of
Audit (TCU) for the representatives and senators in the Brazilian
National Congress it was disclosed to the market several criticisms
about the performance of the economy, growth rates and lack of
infrastructure.
The report points to the lack of compliance
of the Brazilian government as cause of these facts, the Brazilian
Federal Administration systematically did not accomplish various laws
relating to implementation of the general Federal Budget approved by
the National
Congress, recommending immediate actions to be taken in
contrary, so as to accomplish the Federal Budget.
The role of the TCU is to provide information
to various committees installed in the Brazilian Congress, besides
being the department responsible for the supervision and audit
activities of the Executive (President and ministers), and all of the
companies of which the Federal Government is a partner.
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