Government’s cash flow registered a primary deficit of R$ 21.17 billion ($ 3.8 billion) in March, the best performance for the month since 2017, considering values corrected by the Broad National Consumer Price Index (IPCA), according to the National Treasury. The result, which brings together the National Treasury, Social Security and Central Bank accounts, succeeds the February deficit of R$ 18.274 billion ($3.3 billion).
Bradesco saw recurring net income shrink 39.8% in the first quarter of this year in the midst of the pandemic, which pushed the figure in the period to R$ 3.753 billion ($ 683 million) compared to the same period in 2019. R$ 2.7 billion ($ 490 million) in allowance for loan losses, made in the first quarter on account of Covid-19.
The total debt of companies most affected by the Covid-19 pandemic in Brazil amounts to R$ 900 billion ($ 164 billion). Of this total, R$ 556 billion ($ 101 billion) is due to the national financial system. According to Brazilian Central Bank, the sectors most affected are trade, services, transportation, the manufacturing industry, electricity and gas.
Economic uncertainties are great in these Covid-19 times, and making estimates is not an easy task. In the case of agriculture, however, much of what defines the sector’s performance is already known. This is the explanation for estimating a 2.4% advance in the Brazilian agricultural GDP this year.
Shopping centre manager Multiplan saw its first quarter net profit almost double over the same period last year, driven by strong sales performance until mid-March. The company that manages 18 high-end shopping centres in the country had a net profit of R$ 177.75 million ($ 32 million) in the first three months of the year, an increase of 93% in the annual comparison.