Original Bank revises projection for GDP growth in 2021 to 5.5%

Banco Original has revised the growth projection for Brazil for this year, previously 4.1%, to 5.5%. The revision comes after the release of the Gross Domestic Product (GDP) of the first quarter of 2021, which showed expansion of 1.2% compared to the fourth quarter of 2020 and exceeded the bank’s previous expectations.

Source: 6 Minutos

City of Rio wants to cut greenhouse gas emissions by 20% by 2030

The Rio de Janeiro City Hall has launched the Sustainable Development and Climate Action Plan (SDP), with targets to be reached by 2050. During the ceremony at Museu do Amanhã (Museum of Tomorrow), the Rio+30 Cities conference was announced for next year, with municipal managers. One of the main goals of the PDS is the reduction of greenhouse gas emissions by 20% by 2030, a medium-term horizon. By 2050, the proposal is that these emissions be neutralised.

Source: Money Times

Bolsonaro approves Pronampe, which will offer $960mm to small businesses in 2021

President Jair Bolsonaro has sanctioned Bill (PL) 5.575/2020, authored by Senator Jorginho Mello (PL-SC), which makes the National Programme to Support Micro and Small Enterprises (Pronampe) permanent. The announcement was made on Bolsonaro’s social networks. The expectation is that R$ 5 billion (£960 mm) will be granted through the program for micro and small businesses, an amount that could reach R$ 25 billion (£4.8 bn) if supported by public and private banks. Last year, a total of R$ 37 billion (£7.1 bn) were passed on by Pronampe.

Source: CNN Brasil

ANA declares critical situation of water scarcity in Parana hydrographic region

The National Water and Basic Sanitation Agency published in an extra edition of the Official Gazette of the Union the Declaration of Critical Situation of Quantitative Shortage of Water Resources of the Paraná Hydrographic Region until November 30, 2021. The purpose of the declaration is to recognize the critical situation of quantitative scarcity of water resources and to subsidize the adoption of temporary measures to ensure the multiple uses of water and seek water security.

Source: Canal Energia

With overdue payments of $33.1 mm, Brazil is second largest debtor at WHO

Brazil remains the second largest debtor to the World Health Organization (WHO) with arrears of $33.1 million from 2019-2020, according to data from the Ministry of Economy. This year, Brazil has made four instalments of payments, totalling just over $2 million of 2019-2020 arrears. For this year, it has an invoice of $15 million to pay in the entity. One portion of the debt is in dollars and another in Swiss francs.

Source: Valor Investe

Report shows that 94% of deforestation in the Brazilian Amazon is illegal

An unprecedented study developed by Brazilian researchers indicates that 94% of deforestation in the Amazon and the surrounding Matopiba region, which encompasses part of the states of Maranhão, Tocantins, Piauí and Bahia, is illegal. Since Bolsonaro took office in 2019, deforestation in the world’s largest rainforest has been on the rise. In the 12 months to August 2020, deforestation in the Brazilian Amazon increased by 9.5%.

Source: UOL Economia

Salary reduction programme preserves 1.5 million jobs

In a two weeks of operation, the programme to temporarily reduce wages and suspend work contracts during the pandemic of the new coronavirus (covid-19) has helped preserve 1,543,441 jobs. According to the Ministry of Economy, 384,682 employers have joined the programme. Contract suspension agreements represent 41.4% of the total, which is equivalent to 638,893 jobs. In this modality, employees receive 100% of unemployment insurance while their employment contract is suspended.

Source: Agencia Brasil

Covid-19 deaths among elderly take $730 mm out of circulation

Covid-19 deaths among elderly in Brazil took about R$3.8 billion ($730 mm) out of circulation in the 13 and a half months of pandemic to April. This income not received pushed into poverty hundreds of thousands of families who
depend financially on parents and grandparents. The amount lost is equivalent to 1.3% of the total income of the population in the 12 months of 2019, R$294.4 billion ($56.7 bn), the latest data compiled by the IBGE, which considers wages, pensions and other sources.

Source: Valor International

Caixa Econômica Federal will transfer $29 mm for forest preservation

Caixa Econômica announced its adherence to the Ministry of Environment’s Adopt a Park programme. The bank controlled by the federal government has committed to invest R$150 million ($29 mm) to protect 3.5 million hectares of forest in the Amazon. The first phase of the programme is aimed exclusively at 132 federal conservation units in the Amazon.

Source: Money Times

Senate makes business loan policy permanent

The Senate passed a bill that makes the Program of Support to Micro and Small Businesses (Pronampe) a permanent policy. The bill may now be signed in law by President Jair Bolsonaro. Pronampe granted more than R$37.5 billion ($7.2 bn) in loans in 2020, covering more than 440,000 entrepreneurs. The line of credit extended under Pronampe will correspond to up to 30% of the annual gross revenue obtained in the previous year.

Source: Valor International