Weekly Report - 17 August 2023 (WR-23-33)

In his previous administrations (2003-2011), Brazil’s President Luiz Inácio Lula da Silva launched two iterations of the Programa de Aceleração do Crescimento (PAC), programmes which entailed massive investment in infrastructure projects. On 11 August Lula announced the third version of the PAC, which will provide nearly R$1.7tn (US$341bn) for a package of initiatives, this time round with an emphasis on green industrial growth.