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LatinNews Daily - 13 July 2018

In brief: Brazil

*Brazil’s national industrial confederation (CNI), a private sector lobby, has released a new study that found that the country has paid over US$2.8bn for public works projects this year that are currently paralysed. The CNI report is based on data from the federal planning, development & management ministry (MP), which show that there currently are some 2,794 paralysed public works in the country including major works such as the construction of new airports (16), ports (six), highways (30), and railways (five). According to the CNI the works have been paralysed for a variety of reasons including technical and financial issues, meaning that although significant resources have been disbursed, these have “not yet produced any returns to society”. The CNI also adds that this shows that besides spending just 2% of GDP on infrastructure development, “Brazil throws away significant resources allocated to the sector, due to the excessive number of works that are stopped before conclusion”.