Brazil likely to breach spending cap by 2% of GDP this year, says Citi

Brazil is on track to pierce its spending ceiling by 2% GDP this year, Citi economists have warned, predicting that the government will significantly ease its fiscal policy to tackle the Covid-19 pandemic. The cap limits the growth of public spending to the previous year’s inflation rate and is widely seen as the government’s most important fiscal rule.

Source: Money Times

CCR consortium wins auction for CPTM lines, with offer of $175 mm

The consortium Via Mobilidade, led by CCR, won the auction for the concession of lines 8-Diamante and 9-Esmeralda lines of the Metropolitan Trains Company of São Paulo (CPTM), with an offer of R$ 980 million ($175 mm), a premium of about 202% on the minimum value. The concession and foresees investments of R$3.35 billion ($600 mm) over the 30-year contract, of which R$2.6 billion ($463 mm) in the first six years.

Source: 6 Minutos

Internet in the countryside increased from 49% to 55%

IBGE released the data from the Continuous Pnad that researched access to Information and Communication Technology (ICT). According to the figures the percentage of Brazilian households that have access to the internet rose from 79.1% to 82.7% from 2018 to 2019, representing a rise of 3.6 percentage points. Even so that year 12.6 million did not have access. The main reasons given for the difficulty in connecting are lack of interest, expensive service and the fact that no resident in the household knows how to use the technology.

Source: Portal do Agronegocio

Brazil will have $1 bn to digitalise services

The Inter-American Development Bank (IDB) has approved a $1 billion credit line to finance projects that improve digitalisation and connectivity in Brazil. The objective is to promote initiatives that increase the use of technology in the production and availability of public services. The resources of the “More Digital Brazil” line may be accessed by the Union, States and municipalities, as well as small companies, through development banks.

Source: UOL Economia

Piaui invests $250 k in photovoltaic systems for family farmers

The Secretariat of State for Family Agriculture (SAF) of the government of Piauí invested R$ 1.44 million ($250k) in 18 projects for the implementation of photovoltaic systems. Almost 2 thousand families were benefited with this initiative that aims at reducing production costs for small rural producers. The main investments are through the Project Live the Semi-Arid (PVSA) and the Employment Generation Program.

Source: Energia Hoje

Petrobras gains $3.6 bn in market value in one day

After a speech at the swearing-in ceremony of Petrobras’ new CEO, Joaquim Silva e Luna, the company’s shares soared this afternoon. Petrobras gained more than R$20 billion ($3.6 bn) in market value during the trading session. At 4:05 pm, the company’s value reached just over R$318 billion ($57 bn), compared to R$297 billion ($53 bn) at Friday’s close.

Source: Valor Investe

Brazil accumulates $6.31 bn trade surplus

Brazil’s trade balance posted a $3 billion surplus in the third week of April, bringing the accumulated positive balance for the month to $6.310 billion, the Economy Ministry said. In the month, exports totalled $15.381 billion, with $6.844 billion in the third week. Imports, meanwhile, reached $9.071 billion for the month, after totalling $3.840 billion in the last week.

Source: Money Times