Preview of GDP indicates that the Brazilian economy had retraction of 4.05% in 2020

The Central Bank informed that the Economic Activity Index (IBC-Br) of the institution, considered a “preview” of the result of the Gross Domestic Product (GDP), indicates that the Brazilian economy shrank 4.05% in 2020. If confirmed, the fall in GDP will interrupt a sequence of three consecutive highs in the level of activity and will also represent the largest contraction since the beginning of the historical series of the Brazilian Institute of Geography and Statistics (IBGE), which began in 1996.

Source: G1 Economia

BNDES releases $276 mn financing for distributors of Energisa

The National Bank for Economic and Social Development (BNDES) will support the investment plan of nine electricity distributors of the Energisa Group, with funding of R$1.49 billion ($276 mn). The funds will be used to improve services, expand the distribution network and increase the number of customers served by the companies, which serve ten different states. Of the amount to be released,R$965 million ($178 mn) will be provided directly and R$522 million ($96 mn) indirectly.

Source: Money Times

Doria plans investments of $3.3 bn by 2022

Governor João Doria plans to sign concession contracts and Public-Private Partnerships (PPPs) by 2022 that could yield R$ 18 billion ($3.3 bn) in investments in the state in the medium and long term. The estimated volume of resources and jobs generated in an election year, as a consequence of the economic recovery plan, can still be increased with the privatisation of Emae, the water and energy company.

Source: 6 Minutos

Brazil puts 4 vehicle factories up for sale

Brazil today has four vehicle factories for sale, whose closures were announced in December and January. The country has the capacity to produce from 4.5 million to 4.7 million vehicles, already discounting Ford’s figures. The highest volume recorded so far was 3.7 million in 2013; this year, the projection is 2.5 million. The global industry produced 91 million vehicles in 2019, and last year, 76 million.

Source: 6 Minutos