Lula government wants credit for companies without using Treasury – 04/02/2024 – Market

The Secretary of Economic Policy at the Ministry of Finance, Guilherme Mello, stated that the credit stimulus package for micro, small and medium-sized companies will contain different lines of financing, but will not receive resources from the Treasury.

According to him, the measures will be launched by President Luiz Inácio Lula da Silva (PT) and Minister Fernando Haddad (Finance) in the coming weeks.

Without giving details of fees, Mello said that the package will improve existing programs and create new actions, including a new line aimed at micro-enterprises and MEIs (individual micro-entrepreneurs).

“It’s not just one measure. There are lines that involve MEI, several different lines”, stated Mello, who participated this Wednesday (2), in Rio de Janeiro, in the inaugural seminar of the CPFO (Center for Fiscal Policy and Budget), recently created by FGV Ibre (Brazilian Institute of Economics of Fundação Getulio Vargas).

According to Mello, the government is closing the bureaucratic part and final details of the measures, which aim to strengthen the capacity of companies and people who want to undertake investments in their businesses.

“We want credit to reach those who need it. For us, this is very important,” said the secretary.

Last month, President Lula met with the presidents of all public banks (Banco do Brasil, Caixa, BNDES, Banco do Nordeste and Banco da Amazônia) to demand more speed in the credit agenda and expansion of loans for small businesses and for the poorest population.

The president wants financial institutions to work aligned around this credit stimulus agenda, a priority to sustain GDP (Gross Domestic Product) growth this year after the 2.9% increase in 2023.

The package should have a measure for the renegotiation of companies’ debts, a kind of “Unwind” for legal entities.

Desenrola is a program from the Ministry of Finance, which allows individuals to renegotiate debt. It was President Lula’s election campaign banner and one of the first measures announced by the Ministry of Finance, at the beginning of the government.

Deputies also want to approve a Desenrola for companies and demanded the measure from the president of the Chamber, Arthur Lira (PP-AL) at a recent event organized by the Parliamentary Entrepreneurship Front.