Independent Fiscal Institution (IFI) of the Federal Senate
Technical body of the Senate that publishes fiscal monitoring and economic outlook reports.
Evidence
The IFI (Senate) wrote in June 2018 that the negative performance of civil construction, maintained after the end of the recession, is a limiting factor in the recovery of GDP, and listed among the causes the slow recovery of income and employment, the contraction of public investment and the effect of Operation Lava Jato on large construction firms; construction subtracted 0.9 point from industrial GDP growth over four quarters and had been in negative territory for 14 quarters.
Source: Relatório de Acompanhamento Fiscal — junho de 2018 — Independent Fiscal Institution (IFI), Federal Senate, June 2018 · Section 1.1, p. 7 (Chart 4) · open original ↗
The IFI reported, with data from Caged/MTE, that formal employment in civil construction had accumulated a change of -0.8% over 12 months through April 2018 (-1.4% in February; -1.1% in March).
Source: Relatório de Acompanhamento Fiscal — junho de 2018 — Independent Fiscal Institution (IFI), Federal Senate, June 2018 · Section 1.2, Table 3 (p. 8) · open original ↗
According to Monitor Mercantil (June 20, 2018), the IFI study indicated that construction's wealth generation fell 9.6% in 2014 and 7.8% in 2015 (R$14.6 billion in 2015, sectoral GDP of R$172.6 billion) and that BNDES disbursements fell nominally from R$69 billion (2014) to R$54.9 billion (2015).
Source: Estudo do Senado diz que efeitos da operação inibiram recuperação do PIB — Monitor Mercantil, June 20, 2018 · News report of June 20, 2018 · open original ↗