Day: July 23, 2020

Exports of Brazilian citrus fruits rise to 158%

The crisis, caused by the pandemic, has boosted the sale of Brazilian citrus fruits to other countries. In six months, these fruits were responsible for $57.1 million in exports, which represents an 8% increase in the exported value. The data is part of a study made by the National Confederation of Agriculture (CNA), based on information from the federal government.

Ipea proposes 0% interest in credit to SMEs for GDP growth

Micro and small businesses (MSEs) are vital to the economy. Together, they represent 96.6% of businesses and contribute to about 30% of the Brazilian gross domestic product (GDP). A report by Ipea argues that Brazil should offer subsidized credit to MSEs. The proposal is for a line to be created with interest equal to zero and a one-year grace period, with credit conditional on the maintenance of jobs for a period of up to six months after the end of social isolation.

Bradesco, Itaú and Santander launch sustainability plan for the Amazon

The country’s three largest private banks have come together to create a sustainable development plan for the Amazon. The material prepared by Bradesco, Itaú Unibanco and Santander includes ten measures on environmental conservation. It also includes development of the bio-economy, investment in sustainable infrastructure and guaranteeing the basic rights of the population of the Amazon region.

Natural gas consumption in Brazil drops 25%

Total natural gas consumption in Brazil in May fell by 25.4% compared to the same period last year, when it totalled 40.6 million m³ per day, due to the impact of the coronavirus, said the Brazilian Association of Piped Gas Distribution Companies (Abegás). The industrial segment, which is responsible for most of the product’s consumption, registered a 24% drop in the annual comparison, with 21.8 m³ metres per day.

Brazilian primary deficit expected to end 2020 at $157.6 bn

The decline in revenues caused by the pandemic should raise the primary deficit to R$787.45 billion ($157.6 bn) in 2020, the Ministry of Economy said. The primary deficit represents the negative result in the government’s accounts, not considering interest on public debt. In relation to estimates for the economy, the report maintained most projections and the GDP forecast remained at 4.7%.