Federal revenues fall by 6.91% in 2020

Taxes, contributions and other federal revenues fell from 6.91% in real terms (excluding inflation) in 2020 to R$1.479 trillion ($279 bn), the Federal Revenue Secretariat said. This is the worst result for a closed year since 2010, that is, in ten years. Economy Minister Paulo Guedes said that he considered the result of the fundraising to be excellent, taking into account the economic crisis caused by the COVID-19 pandemic.

Source: G1 Economia

BNDES approves funding of $85 mn for aircraft exports

The National Bank for Economic and Social Development (BNDES) has approved funding of BRL 450 million ($85 mm) for the export of Brazilian aircraft produced by Embraer to US airline SkyWest Airlines. The release is through the BNDES Exim Post-shipment credit line, and the operation is guaranteed by credit insurance called Aircraft Non-Payment Insurance (ANPI), operated by the private insurance consortium Aircraft Finance Insurance Consortium (AFIC).

Source: Money Times

Solar energy by subscription advances in Minas and can generate savings of 21%

The use of solar energy by subscription has grown exponentially in the state of Minas Gerais, driven by the absence of the need for own investment. The service will serve households, businesses, industries and rural properties that have an average spending on electricity of R$500 ( $94) or more per month. The average savings from these contracts could be up to 21% for consumers.

Source: Portal do Agronegoio

Fitch gives ‘BB-‘ rating to Movida, with stable outlook

The rating agency Fitch has given Movida and its notes to be issued by its subsidiary Movida Europe a long-term global “BB-” rating with stable prospects. The company’s long-term national rating is “AA-(bra)”, also with a stable outlook. According to the report, the rating reflects “a strong business position in the competitive rental and fleet management industry” as well as “adequate” operational efficiency.

Source: Valor Investe

Nexway and Perfin announces energy efficiency investment of $188 mn

Nexway Eficiência, from Comerc Group, and Perfin Mercury, Perfin Asset’s infrastructure investment fund, signed an agreement to invest R$ 1 billion ($188 mn) in energy efficiency in Brazil over the next three years. In a statement, the two companies said they will announce the first projects of the partnership in the coming months. In November 2020, Nexway reported growth of 141% in receivables over the year, which culminated in the launch of a new brand, with an independent structure and focus on the expansion of the modality in Brazil.

Source: Canal Energia