Month: December 2020

Social Security has a negative balance of $121 bn

The social security deficit reached R$604.30 billion ($121 bn) from January to November of this year, after revenues totalled R$724.82 billion ($145 bn) and expenses, R$1.329 trillion ($266 bn). The information is from the Summary Report on the Budgetary Execution of the Union (RREO), released recently by the National Treasury. The deficit is higher than that recorded in the same period last year, when it was R$ 292.66 billion ($58.6 bn).

Source: Valor Investe

New minimum wage of $220 from 1st January; impact is $800 mm

President Jair Bolsonaro said he would sign on Wednesday a provisional measure increasing the minimum wage in the country to R$1,110, effective from 1st January, 2021. The readjustment represents an increase of 5.26% over the current amount. The impact on public accounts with the readjustment will be approximately R$4 bn ($800 mm).

Source: UOL Economia

BDMG issues $50m in sustainable bonds and debut among public banks

The Development Bank of Minas Gerais (BDMG) became the first Brazilian public bank to issue so-called sustainable securities, which are debt securities intended to finance environmental and/or social projects. The transaction was carried out on the New York Stock Exchange for $50 million, and the securities were acquired by IDB Invest.

Source: 6 Minutos

Impostometer takes first annual fall: $89.5 bn less in 2020

For the first time since it was created, in 2005, the Impostômetro of the Commercial Association of São Paulo (ACSP) registered an annual drop in tax collection in the country. The entity estimates that Brazil will end the year with a 17.85% reduction, or R$447 billion ($89.5 bn), in municipal, state and federal tax collection compared to 2019. Last year, the amount collected was R$ 2.5 trillion ($500 bn).

Source: Isto É

Chesf invests $106 mm in transmission

Chesf will invest about R$ 526 million ($106 mm) in reinforcement and improvement works in electric power transmission in the Northeast. These projects increase the quality and reliability of the National Interconnected System, with completion scheduled for the next few years. The Company has raised 50% of the total resources needed with Banco do Nordeste do Brasil – BNB.

Source: Canal Energia

Public accounts close November with negative balance of $3.7 bn

The Central Government – the National Treasury, the Central Bank and Social Security – registered a primary deficit of R$18.241 billion ($3.7 bn) in November, the National Treasury Secretariat reported. The primary deficit is the negative balance in the government’s accounts, with higher expenses than revenues, without taking into account in this calculation the public debt interest expenses.

Source: Money Times