Profitable companies generate benefits for society, says economist

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The Minister of Mines and Energy, Adolfo Sachsida, criticized again on Tuesday (28) the profits of Petrobras during a public hearing at the Consumer Protection Commission of the Chamber of Deputies.

In an interview with CNN this Wednesday (29), when commenting on Sachsida’s statements, the chief strategist of RB Investimentos, Gustavo Cruz, said that “there is a confusion in understanding that profitable companies generate benefits for society”.

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“Petrobras invests around 7% to 10% of everything that is invested in Brazil, apart from what the company passes on to social initiatives,” said Cruz.

For the chief strategist, a capital market with stronger companies means “bigger long-term investments, more hiring, as well as economic growth for Brazil”.

Brazil opens 277,000 formal jobs in May

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Brazil recorded a positive balance of 277,018 formal jobs in May, according to data from the New General Register of Employed and Unemployed (Caged), released by the Ministry of Labor and Social Security on Tuesday (28).

The Minister of Economy, Paulo Guedes, stated that “Brazil may be in a 3% growth cycle for 10 consecutive years”. For Gustavo Cruz, despite the country’s recovery in the first two quarters of the year, what could corroborate Guedes’ speech would be “more stable market conditions and a lower interest rate curve in the long term”.

Gustavo Cruz pointed out that the benefits announced by the Federal Government give “a feeling of economic growth for a period, but do not guarantee growth of 3% per year for Brazil”.

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Source: CNN Brasil

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