BRAZIL IS THE EIGHTH BIGGEST ECONOMY IN THE WORLD. AFTER ALMOST A DECADE OF STRONG GROWTH (2002-2013), FOLLOWED BY AN ECONOMIC CRISIS IN 2015 AND 2016, THE BRAZILIAN ECONOMY RECOVERED IN 2017 AND GDP WAS INCREASE BY 1%.
Budgetary adjustment and favorable economic conditions contributed greatly to this recovery. In 2018, the Brazilian economy confirmed this trend, with GDP showing a growth of 1.4%. The Brazilian economy is expected to continue to grow in 2019, reaching an estimated annual GDP growth rate of 2.4% (IMF).
Social spending is the highest in Brazil among Latam countries, representing 31.3% of general government spending in 2014. However, it is still below the OECD average (40.5%). In the same year, Brazil collected most of the tax revenue as a percentage of GDP (33.4%) in the Latam region, reaching a value similar to the OECD average (34.4%).
The formal requirements for holding consultations with the public are described in the Federal Administrative Procedures Law and in the respective laws and regulations that establish and regulate the regulatory bodies. While regulatory agencies often conduct public consultations over the internet and, in some cases, public hearings, practices vary between ministries. However, proposals of great importance are generally subject to public consultation.