Home Administration “We see the first signs of economic recovery,” says BNDES’ president

“We see the first signs of economic recovery,” says BNDES’ president

According to her, at present only the three sectors that should help recovery - oil and gas, agriculture and infrastructure - have idle capacity

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After meeting with President Michel Temer and other ministers at the Presidential Palace on Tuesday, 21, Maria Silvia Bastos Marques, president of the BNDES, reinforced the current speech of the government and said that we can already see the first signs of recovery the economy. “We are seeing that the valley has passed,” he said. According to María Silvia, the areas of infrastructure, oil and gas and agriculture “possibly” should lead this recovery process.
The bank president said it is a bit of time trying to organize the meeting with Temer to show how the BNDES “works and what we are doing.” According to her, the meeting – attended by ministers Henrique Meirelles (Finance), Moreira Franco (Secretary General of the Presidency) and Dyogo Oliveira (Planning) – has drawn a “general overview of the Brazilian economy.” María Silvia said that the meeting did not talk about the TJLP and that it was only a joint working meeting.
According to her, today only the three sectors have idle capacity and should help recovery – oil and gas, agriculture and infrastructure. The BNDES president stressed that there is still too much surplus capacity in the industry. María Silvia also took the opportunity to highlight the actions of the development bank in these sectors.
He noted that in infrastructure, the bank is investing in concessions through PPPs and that the Commission has already approved energy resources. He said that in agriculture, the BNDES has “an important role” as the largest donor, and has stressed that although the bank is known for large operations, BNDES “is more than that.”
María Silvia also recalled some actions already described by the bank as working capital credit and said that the measure was very important to prevent companies from going bankrupt. According to her, the line of working capital will be extended until December 2017. “We are continuously evaluating,” he said. Finally, he recalled the return of $ 100 million dollars to the Treasury last year and added that “there is nothing to return this year.”