Day: June 15, 2020

Estapar scales BTG Pactual as Market Maker

Estapar announces that it hired BTG Pactual to exercise the role of market maker for the company’s common shares traded on B3, whose contract was signed on June 8. According to the statement, the contract is effective for 12 months, automatically extendable for equal periods if there is no contrary manifestation by the parties.

Economists recommend austerity to Brazilian families

The decline in Brazilians’ income amid the economic crisis caused by the covid-19 pandemic, worries economists. The effects are felt in the fall of the purchasing power and in the consumption capacity of the families. The percentage of households in debt reached 66.6% in April this year – a record since January 2010. The OECD predicts that Brazilians may reach up to 8% poorer in 2021, compared to 2019.

Market projects primary deficit of $148 billion for 2020

Experts heard by the Ministry of Finance in the Prisma Fiscal report worsened the estimates for the result of public accounts this year. The central government’s primary deficit was estimated at R$ 708.8 billion ($ 148 bn) now in June, compared to a R$ 571.4 billion ($ 119 bn) gap in the estimate made last month. For 2021, the deficit estimate jumped from R$ 169.4 billion ($ 35 bn) to R$ 200 billion ($ 42 bn).

Free market could have up to 50% of consumption

In ten years, the free energy market should account for more than half of Brazilian consumption, concentrating all large industrial and commercial consumption, and possibly also the residential segment with the highest consumption. The evaluation is by the president of Eletrobras, Wilson Ferreira Junior.

Air companies prepare for recovery after pandemic crisis

The number of daily domestic flights fell from 2,700 to 180 when the country was forced to stop several economic activities in the face of coronavirus. The president of the Brazilian Association of Airline Companies, Eduardo Sanovitz, detailed the package of 36 measures that the sector designed to overcome the crisis and prepare for the resumption of operations. “Our forecast for the end of this month is 353 daily flights,” he said.