Enthusiastic about the President Dilma Rousseff keeping the veto to many projects of the called “pauta-bomba”, the Minister of Finance, Joaquim Levy, disclosed, yesterday, the study of an mechanism that, when deployed, will help to recover the investments in the country. During the public hearing at Economic Affairs Committee (EAC), Levy said that he analyses the authorization for the States and Municipalities make loans, with the Union approval, dedicated to create investments guarantee funds made by public-private partnerships (PPPs).
The Minister showed, to the Valor, an excitement with this possibility, saying that the governors and mayors will have the ability to boost investments equivalent to 10 or 15 times the funds amount. “The funds will give a sense of security to the investor, who will have a guarantee that the governments will comply with their part”, said. In the Minister opinion, this mechanism will provide great opportunities to the investment area.
According to Levy, this subject was already discussed in the scope of External Financial (Cofiex), the inter-ministerial body responsible for the negotiation process to obtain external funding by the public sector from the credit multilateral organization.
Levy considers that the investments will have a key part to recover the country development. He also highlighted the need to approve the Project that regulates the resources sent by Brazilians to foreign countries, which will allow, from the collected Money, the creation of the regional development fund and the loss reimbursement fund for the Goods and Services Tax (GST) reformulation.
“The development fund will also allow that the governors make more investments, according with their priorities and programs, because the Union will not influence “, said.
The fund mechanism is expected as provisional measure, which is still on course at Congress. Levy ed that the proposed constitutional amendment of the senator Walter Pinheiro (PT-BA) also establishes funds, designating R$ 3 billion to the development fund and R$ 1.5 billion to the loss reimbursement fund. The minister considers that the forecasted values are realistic. He said that the resources can be used by the governors for direct investments or they can be directed to the PPPs guarantee funds.
The Minister of Finance is frequently criticized, mainly by the PT leaders and parties of government base, for not provide the sufficient credit to businessman and consumers, as an attempt to minimize the current economical crises, and that he only thinks about the fiscal adjustment. To strike back this type of criticism, Levy says that, last May, the Brazilian National Monetary Council (CMN) released R$ 22.5 billion to the real estate sector. “See how much of this Money was used”, proposed Levy. The Valor checked, with government sources, was used less than 55% of the released total. Approximately R$ 10 billion are still available. The Caixa Econômica Federal used less than 40% of it could. In other words, there was no demand.
Last week, with another measure to improve the investments, the CMN changed the rules for the resource planning of the open pension entities, with higher investments on the real estate market. Last September, the CMN extended the deadline for fund raising through deposits with a special guarantee, used by small banks.
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