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BNDES investments will reach $30.5 billion in 2018. But Brazil needs much more

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Paulo Rabello de Castro BNDES CEO

 

The National Bank for Economic and Social Development’s (BNDES) chairman, Paulo Rabello de Castro said on Monday (Dec,11) that the institution’s annual disbursements in 2018 will reach about R $ 100 billion (about US $ 30.5 billion).

Paulo Rabello de Castro said that the rate of national investment, which this year may fall below 16% of the Gross Domestic Product, what in terms of investment means practically the replacement of pre-existing capital stock.

“That is, Brazil skating and not leaving the place Castro said that in order to spread this resumption of development, Brazil needs more credit for investments. According to him, the investment rate is expected to rise to 20% of GDP in the coming years, and hopefully  reaching up to 25%.

For the president of the BNDES, the tax reform “is very essential” for the resumption of investments in the country and that the sector that demands this change is the industrial sector. Second Case, despite the significant contribution of the agricultural sector to the GDP, the country needs to direct investments to the industry.