Day: July 10, 2020

Brazilian Government stops using $6.3 mm fund for the Amazon

The Brazilian Government has stopped using million-dollar resources already donated by other countries to combat crimes in the forest. More than R$33 million ($6.3 mm) already donated to Brazil through the Amazon Fund, a programme financed with money from Norway and Germany, are available for two actions: one to fight fires by Ibama and the other for the Ministry of Justice to expand the work of inspection in the forest by the National Force. These resources, however, are stored in the BNDES.

Profit of federal state-owned companies rose to $20.5 bn in 2019

State-owned companies recorded net profits of R$109.1 billion ($20.5 bn) in 2019, an increase of 53%, compared to 2018 when it was R$71.3 billion ($13 bn). According to the Ministry of Economy, there were 200 state-owned companies at the end of 2019, 46 of which were direct and 154 were indirect. Among those with direct control, 18 were dependent. At the end of 2018, the country had 209 state-owned companies.

Tourism sector in Brazil accumulates losses of $23 bn

The sector has already lost R$122 billion ($23 bn) from March to June. The amount is equivalent to more than three months of sales in the sector, estimated at R$40 billion ($7.5 bn), according to CNC data. The entity estimates that it may take until 2023 for the sector to resume the 2019 revenue level, before the pandemic. Today, the sector operates with about 15% of its capacity.

Caixa exceeds $943 mm in credit to micro and small companies

Caixa Econômica Federal has exceeded the R$5 billion ($943 mm) in credit to micro and small businesses during the pandemic. The Support Program for Micro and Small Businesses (Pronampe) reached the limit of R$4.24 billion ($800 mm) in loans and the lines of the Guarantee Fund for Micro and Small Businesses (Fampe) lent R$1.8 billion ($339 mm).