About Brazil

General Information
Brazil, a vast South American country, stretches from the Amazon Basin in the north to vineyards and massive Iguaçu Falls in the south. Rio de Janeiro, symbolized by its 38m Christ the Redeemer statue atop Mount Corcovado, is famed for its busy Copacabana and Ipanema beaches as well as its enormous, raucous Carnaval festival, featuring parade floats, flamboyant costumes and samba music and dance.

Population
The population of Brazil, as recorded by the 2008 PNAD, was approximately 190 million.

Political Structure
The form of government is that of a democratic federative republic, with a presidential system. The president is both head of state and head of government of the Union and is elected for a four-year term, with the possibility of re-election for a second successive term. The current president is Michel Temer, who replaced Dilma Rousseff after her impeachment. The President appoints the Ministers of State, who assist in government. Legislative houses in each political entity are the main source of law in Brazil. The National Congress is the Federation’s bicameral legislature, consisting of the Chamber of Deputies and the Federal Senate. Judiciary authorities exercise jurisdictional duties almost exclusively. Brazil is a democracy, according to the Democracy Index 2010.

Infrastructure and Economy
Brazil is the largest national economy in Latin America, the world’s eighth largest economy and the seventh largest in purchasing power parity (PPP) according to the 2017 estimates. Brazil has a mixed economy with abundant natural resources. After rapid growth in preceding decades, the country entered an ongoing recession in 2014 amid a political corruption scandal and nationwide protests.

Languages
The official language of Brazil is Portuguese

Currency
Real (R$) (BRL)

Exchange Control
Offshore activities are exempted from exchange.