Brazilian tourism losses with pandemic total $65.6 bn

The losses of Brazilian tourism with the pandemic reach R$ 341.1 billion ($65.6 bn), according to estimates by the National Confederation of Trade of Goods, Services and Tourism (CNC). The tourism sector is 44% below the level of February 2020, before the pandemic began in the country, a much more critical situation than other sectors of the economy, such as services in general (-2.8%), retail (-0.3%) and industry (0%).

Source: Valor Investe

Covid-19 deaths among elderly take $730 mm out of circulation

Covid-19 deaths among elderly in Brazil took about R$3.8 billion ($730 mm) out of circulation in the 13 and a half months of pandemic to April. This income not received pushed into poverty hundreds of thousands of families who
depend financially on parents and grandparents. The amount lost is equivalent to 1.3% of the total income of the population in the 12 months of 2019, R$294.4 billion ($56.7 bn), the latest data compiled by the IBGE, which considers wages, pensions and other sources.

Source: Valor International

Green bonds issued by the agriculture and cattle-raising sector grow

Agribusiness is raising more funds through sustainable credit operations, the “green bonds”, and the expectation is that the amount raised in 2021 grows at least 50%. Since August of last year, certification criteria for agribusiness have been published by the Climate Bonds Initiative (CBI) and there has been an increase in the sector’s interest in being financed by this means, as well as a greater demand from investors.

Source: Portal do Agronegocio

Small retail sales shrink 3.5% in April

The impact of the lockdown during April on small retail translated into a 3.5% shrinkage in turnover. This is what the Gyra Trends indicator from the credit solutions platform for micro and small businesses Gyra+ shows. The comparison is always considering the moving average of 12 months of sales. The drop in revenue in April is not unprecedented. In March Gyra Trends had already registered a retraction of 2.5%.

Source: 6 Minutos

Senate makes business loan policy permanent

The Senate passed a bill that makes the Program of Support to Micro and Small Businesses (Pronampe) a permanent policy. The bill may now be signed in law by President Jair Bolsonaro. Pronampe granted more than R$37.5 billion ($7.2 bn) in loans in 2020, covering more than 440,000 entrepreneurs. The line of credit extended under Pronampe will correspond to up to 30% of the annual gross revenue obtained in the previous year.

Source: Valor International

Government allocates more $1 bn for Covid-19 vaccines

President Jair Bolsonaro issued a provisional measure, to allocate more R$ 5.5 billion ($1 bn) for production, supply and distribution of doses of vaccines against Covid-19, said the federal government in a statement. The government had already issued last year another provisional measure that provided for the allocation of R$ 20 billion ($3.7 bn) for the purchase of vaccines against Covid.

Source: Money Times

Programme to reduce youth unemployment is expected to cost $1.1 bn

The program being called Productive Inclusion Bonus (BIP) is expected to cost around R$ 6 billion ($1.1 bn) to the public coffers and aims to reduce youth unemployment. The beneficiary would receive up to R$ 600 ($110), which would be divided between the government and the employer. The idea so far is that the amount paid by the Union could vary from R$250 to R$300 – ($45 – $55) the other part would be paid by the employer.

Source: Valor Investe