05/24/2024 – 21:56
The federal government is preparing for next week the announcement of a line of credit aimed at large companies affected by the rain tragedy in Rio Grande do Sul. The number is not yet finalized, but according to members of the Ministry of Finance, it could “exceed R $10 billion.”
The information was published by the newspaper Folha de S.Paulo and confirmed by Estadão. The announcement is expected to be made on Monday, 27th, by the vice-president, Geraldo Alckmin, who is also Minister of Development and Industry. The idea is to serve large companies in the industrial and agribusiness sector, which had not been included in the first credit measures announced by the government 15 days ago.
The operator of this new financing will be BNDES, which will receive funding from the Union to offer interest rates below those practiced in the market. In this case, there will be no guarantee from the Treasury, since the Treasury’s assessment is that these large companies have guarantee support and the assistance will be given by reducing the cost of financing.
A provisional measure will be issued to facilitate the transfer of resources to BNDES and, according to a member of Minister Fernando Haddad’s team, the expense will not be counted towards meeting the primary result target.
The economic team hopes to complete the first stage of aid to companies and individuals affected by the floods in Rio Grande do Sul, having control over the cost of the aid measures.
The government had already announced credit for small and medium-sized companies. These lines, which are guaranteed by the Treasury, were ready to operate this Friday, the 24th, with the adaptation of the bank system and staff training. The expectation is that it will be operated mainly by Caixa Econômica and Banco do Brasil.
The Treasury also prepared the Reconstruction Valley, which will have an initial cost estimated at R$500 million, and proposed freezing the State’s debt for three years. Furthermore, the Federal Revenue Service suspended the collection of taxes from affected companies for a month. There was also an advance payment of INSS and the release of FGTS.
Even though there is urgency in helping the State, the understanding of the economic team is that actions must be developed step by step and with caution so as not to cause lasting damage to public accounts.
At the beginning of the crisis, ideas were raised, such as the creation of emergency aid and even the forgiveness of all of Rio Grande do Sul’s debt, but they fell by the wayside with the creation of alternative solutions proposed by the Treasury.
#Farm #prepares #billiondollar #line #credit #large #companies