The federal government has completed the purchase of at least 6,500 ventilators. The stock will start to be manufactured in the coming days by the Brazilian company Magnamed, specialized in the sector. Delivery will be done within 180 days.
The results of recent stress tests carried out by Brazil’s Central Bank on small and medium-sized enterprises were “not very good”, Central Bank president Roberto Campos Neto said, adding that some sectors will need support.
Brazil’s Health Minister Luis Henrique Mandetta said that the country’s attempts to purchase medical supplies from China to fight the coronavirus epidemic were failing and the government is turning to Brazilian companies to make ventilators.
Services activity in Brazil shrank 1% in February, official figures showed on Wednesday, the biggest monthly fall in over 18 months and another sign Latin America’s largest economy was already in go-slow mode before the coronavirus crisis erupted. Services accounts for around two-thirds of Brazilian economic activity, and much of it has now been virtually shut down due to the Coronavirus outbreak.
Brazilian agribusiness exports in the first quarter of 2020 totalled $21.4 billion and were virtually stable compared with the same period last year, CNA said. China was the main destination for Brazil’s agricultural commodities exports like soy, beef and chicken, with shipments to the Asian country totalling $7.2 billion in the period.
Treasury Secretary Mansueto Almeida said that the Brazilian public sector is on track to record a primary deficit of up to R$ 500 billion ($ 100 billion) this year because of the impact of the Covid-19 crisis.
Only in the first days of April, Petrobras recovered part of the market lost since the beginning of the year, passing R$ 183.6 billion ($ 36.6 bn) in the last trading day of March for R$ 220.6 billion ($44 billion). A statute managed to recover R$ 37 billion ($ 7.4 bn) in market value.
Aneel (National Electric Energy Agency) authorized the transfer of R $ 2,022 billion ($ 404 million)to guarantee liquidity to companies in the electricity sector during the crisis generated by the coronavirus pandemic. The funds will come from a reserve fund composed of charges charged to the electricity bill.
Magazine Luiza, the largest retail group in Brazil, with a value of R$ 62 billion ($ 12,4 billion) on the stock exchange, announced a plan to overcome the crisis caused by the new coronavirus. The first measure was the approval, by the board of directors, the issue of R$ 800 million ($160 million) in debentures. The statement does not clarify whether there is already a timetable for this operation.
Cement manufacturers in Brazil canceled the projection for sales growth this year, due to the impact by the coronavirus, according to an entity that represents the sector. Cement sales by business day in March fell 10.4% compared to the same month of 2019 and decreased 15% over February.