Brazil industrial confidence rises in May for first time in five months -FGV Reuters 1 hr ago
BRASILIA, May 26 (Reuters) - Brazilian industrial confidence rose in May, a survey showed on Thursday, marking the first rise in five months as businesses looked through the current COVID-19 crisis towards brighter prospects in the coming months.
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The Fundacao Getulio Vargas s national industrial confidence index for May rose 0.7 points to a seasonally adjusted 104.2 from 103.5 in April, according to preliminary figures.
The FGV s industrial confidence survey showed that the expectations index rose 2.1 points to 99.0, but the current conditions index fell 0.5 points to 109.5, the lowest since September.
UPDATE 1-Brazil economy minister expects tax reform within 5 months Reuters 1 hr ago
By Jamie McGeever
BRASILIA, May 27 (Reuters) - Brazil s Economy Minister Paulo Guedes said on Thursday that he wants tax reform to be passed in four or five months, adding that constructive discussions with Congressional leaders suggest there is no reason why approval cannot be achieved this year.
In a virtual address to industrialists, Guedes said corporate tax will fall 5% under the government s proposals, and that the tax reform package will be simple and broad-based. We want a wide, but practical and quick, tax reform. It has to happen in four to five months, that is the time we have to get this approved, Guedes said, adding that constructive discussions with lower house and Senate leaders Arthur Lira and Rodrigo Pacheco give him cause for optimism.
UPDATE 1-Brazil s government posts $3.1 bln budget surplus in April -Treasury Reuters 2 days ago
By Jamie McGeever
BRASILIA, May 27 (Reuters) - Brazil s central government posted a sizeable budget surplus in April, Treasury figures showed on Thursday, thanks to another month of strong tax revenues and a significant fall in spending related to the COVID-19 pandemic from a year earlier.
The government reported a primary budget surplus excluding interest payments of 16.5 billion reais ($3.1 billion) last month, compared with a 93 billion reais deficit last April.
Net revenue jumped 58.8% in real terms to 139.2 billion reais and spending fell 34.4% in real terms to 122.7 billion reais, Treasury said. Emergency pandemic-fighting spending in April fell 32 billion reais from April last year.