[ad_1]
The federal government's first-quarter investment in GDP (gross domestic product) was the worst in 19 years. Data from the Ministry of Planning show that these investments accounted for 0.6% of GDP in the first three months (R $ 9.8 billion). This is the worst performance of the first quarter of the year 2000. During the first three months of the year, state investments accounted for 0
. figures also show that investments fell more sharply from 2016, when Michel Temer took the presidency of the Republic.
|
|
]
The government states that there is a "depletion" of the state's debt and that it redirects resources to its core business. In the case of Petrobras, these activities involve the exploration and refining of oil, for example. The government also states that it seeks to attract private investment in sectors such as electricity, aviation and oil and gas.
The values invested by public enterprises in the first quarter are included in the 6th bulletin of the Ministry of Planning. 19659002] 2000: 0.5% of GDP (1.5 billion reais)
2001: 0.7% of GDP (19659002) See investments of the Federal State in the first quarter (19659002) 2003: 0.9% of GDP (19659002) 2002: 1% of GDP (3.4 billion reais)
9% of GDP (4 billion reais)
2005: 1% of GDP (5 billion reais) )
2006: 1% of GDP (6 billion reais)
2007: 1.3% of GDP GDP (8.1 billion reais)
2008: 1.4% of GDP (9.8 billion) of reais)
2009: 1.8% of GDP (13.9 billion reais) 2010: 2.1% of GDP (18.8 billion reais)
2011: 1.6% of GDP ( 16.7 billion reais)
2012: 1.7% of GDP (19659002) 2014: 1.6% of GDP (21.7 billion reais)
2013: 1.7% of GDP (21 , 2 billion reais) (19659002) 2017: 0.7% of GDP (11.2 billion reais)
2016: 1% of GDP (15 billion reais)
] Petrobras and Eletrobras accounted for 93% investments
According to the bulletin, Petrobra s accounted for 88% of investments made by public companies in the first quarter In total, the state-owned company spent R $ 8.6 billion during the period. Eletrobras, with 5.2% of the total or R $ 518 million, stands out
Remaining companies, including state-owned banks (or financial sector firms), spent 6.8% of the total or R 667 million
In total, there are 144 federal public enterprises in Brazil today. Petrobras, Eletrobras, BNDES, Banco do Brasil and Caixa account for more than 90% of the badets managed by these companies.
Petrobras' price policy was a problem, according to an economist
economist Amir Khair, former São Paulo's finance secretary, said the problem of state investment is both the economic crisis itself, which resulted in a loss of revenue for businesses, and the pricing policy adopted by Petrobras under the administration Dilma Rousseff
According to Khair, the Dilma government artificially provided the price petroleum products, such as fuel, and was causing damage to Petrobras, which accounts for most of the state's investments. "The Temer government came and could not cope with the economic recession," he said, adding that he had come to solve the problems of the ongoing crisis.
Temer's expected recovery has not come
Asked why the decline has deepened after 2016, Khair said the government was expecting an economic recovery that would not come. did not come.
"This investment reduction process was ongoing and in 2017, when we expected a recovery in the economy, it did not happen," he said. Economist Raul Velloso said that the decline in state investment is directly related to the slowdown in the economy, which hit a negative GDP in 2015 and 2016. GDP fell by 3, 5% in 2015 and 2016.
According to Velloso, with the weakness of the economy, state-owned enterprises have experienced a decline in their revenues and, as a result, reduced their investments. "At this stage, public companies are the same as private companies," he said. "Petrobras is our largest state-owned enterprise and, when it reduces its investments, it ends up having a very heavy weight on the state's investments as a whole," Velloso said.
Crisis Affects Investment, says Ministry
Planning attributed declining state investments to factors such as the country's economic scenario, which is being recovered according to the Ministry, and the reduction in spending encouraged by the federal government. According to the planning, this reduces the possibility of contributions from the Union for investment.
According to the Ministry, there is a "depletion" of the state's debt capacity. In debt, they made investments above their cash generating capacity, the ministry said. Thus, each company has sought to allocate resources to its core business (oil exploration, in the case of Petrobras, for example) and to reduce its debts.
Investments are expected to decline further in the next few years
a reduction in federal investments is expected in the coming years. According to the agency, in the financial sector, for example, a decrease in the number of physical agencies and an increase in digital should contribute to this movement.
In the oil sector, the ministry said that there is a movement of concentration of Petrobras performance in the segments of oil exploration and refining, its main business, which reduces the demand for investments. "In the airport sector, the reduction will occur naturally due to the reduced number of airports managed by Infraero."
In the case of Eletrobras, Planning announced that its privatization would also involve a reduction in investments.
The government says it's working to attract private investment
The government said it wants to attract private investment in sectors such as electricity (at Exception of electricity). the privatization of Eletrobras), aviation (with airport concession) and oil and gas (with the Petrobras divestment plan).
"These measures should offset the reduction in public investment," said Planning.
The agency also said that the investment policy adopted by the companies previously did not have "economic sustainability". On the one hand, companies favored projects that did not offer good profitability. On the other hand, many of these projects were financed by credit operations, which left a debt to public companies, according to the ministry.
Source: UOL
Source link
