Yesterday, Temer’s Chief of Staff, Eliseu Padilha, announced that the PMDB majority Congress is likely to vote legislation next month to attract FDI. According to Padilha, new legislation will focus on infrastructure and regulatory issues and would give agency directors more discretionary over their budgets. And these directories would be hires for five-year fixed terms not necessarily because of their politics, but rather their competency. New legislation could also come to allow more FDI in the pre-salt because, as we know, Petrobras is buried in a deep amount of debt and development of fields slowed down over the past year.

Source: Dow Jones Newswires