Incentive for industry to renew machinery could reach R$ 15 billion, says Haddad

The Minister of Finance, Fernando Haddad, said this Monday (24) that the budget aimed at encouraging the renewal of machinery in the industry could reach up to R$ 15 billion from 2024. The government considers the so-called “accelerated depreciation” of production plants for the initiative.

“Today we reaffirm our commitment to the thesis of accelerated depreciation for 2024. But we are still going to define its scope, which may vary in relation to the sectors it will cover, in relation to the shortening of the term”, said the minister.

“We are going to see the evolution of the Budget process from August 31 and we are going to define the starting point of the accelerated depreciation”, he stated. Haddad met this morning with the vice president and minister of Development, Industry, Commerce and Services (Mdic), Geraldo Alckmin, to define the budget for the vice president’s portfolio.

The minister pointed out that the incentive can vary between R$ 3 billion and R$ 15 billion and that the definition also depends on the National Congress.

“[O valor] it can vary a lot. The general package could reach R$ 15 billion, but it could reach R$ 3 billion, it could reach R$ 5 billion, it could reach R$ 9 billion. It will depend a lot on the space that Congress allows us, depending on the laws that will be passed, so we will calibrate the light of this definition that is up to Parliament”, said Haddad.