It was obvious that it was going to happen and it didn’t happen. Petrobras, one of the most efficient companies in the world, dawned today worth less after a change in the direction of the state-owned company promoted by Jair Bolsonaro.
The damage is great for shareholders, but the greater damage is still another, caused in association of Bolsonaro with the forces of Centrão committed to solving by bill how to lower fuel prices and, therefore, inflation.
The House has not yet been able to vote on a ceiling to limit taxation of essentials such as electricity and gasoline.
There is great confusion with states, which will lose revenue, which could be compensated via, guess what, the national treasury; that is, by subsidy.
Together, Bolsonaro and Câmara are doing more damage than reducing the value of a state-owned company and shuffling fiscal policy by putting their hand in the public coffer. Both are contributing to decreasing predictability in the economy.
Unless they believe that confusion, mess and aimlessness is some kind of creative destruction.
Source: CNN Brasil