New PAC: Lula launches program this Friday, and government plans to invest BRL 60 billion per year

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Initiative will include projects in 7 areas. Public resources, public-private partnerships and concessions must supply the program; previous rounds spent more than BRL 666 billion. Announcement of the New PAC being projected at Pedra do Leme, in Rio de Janeiro ) the New Growth Acceleration Program (PAC). The initiative foresees R$ 60 billion in federal investments per year. The program will include the resumption of stopped works, acceleration of works in progress and new ventures. The projects will be divided into seven major areas: transport urban infrastructure water for all digital inclusion and connectivity transition and energy security social infrastructure and defense infrastructure and social programs, such as Minha Casa, Minha Vida. The results boosted the election of Dilma Rousseff (PT), the minister responsible for the project at the time. The initiative was discontinued by the governments of Michel Temer (MDB) and Jair Bolsonaro (PL). After Lula’s election for a third term, still in the transition of government, a new version began to be conceived. In the New PAC, in addition to resources from the Union Budget, parliamentarians who participated in meetings to discuss the program affirm that the Planalto plans to add investments from Petrobras and public-private partnerships. With the state-owned company investing around BRL 300 billion in four years, added to the private contribution, the total amount invested in the program could reach the mark of BRL 1 trillion by 2026. Investments in the PAC In previous editions of the PAC, the government spent BRL $666.5 billion, inflation-adjusted through June of this year. The value is just over 11 times greater than the estimated resource for annual investment in the new round, which is R$ 60 billion. The data is from the National Treasury and includes works carried out between 2008 and 2021. payment order issued in the period. The record for public spending on the program occurred in 2014, the year of the World Cup in Brazil. According to the information, it was approximately R$ 97.5 billion. The amount determined by the Treasury considers the tax and social security budgets, but excludes investments by state companies, such as Petrobras, for example. In 2016, after the impeachment of President Dilma, Michel Temer replaced the PAC with the Investment Partnership Program (PPI), maintained in the Bolsonaro administration. Works carried out Despite the high investment values, the PAC had a low execution of works. A 2019 TCU report points out that PAC 1 (2007 to 2010) concluded only about 9% of the planned actions in the period. PAC 2 (2011 to 2014) delivered 26% of the planned measures. Experts heard by g1 point out errors in planning and defining projects in the Lula and Dilma administrations. According to economist and professor at FGV Carla Beni, Dilma’s management absorbed projects not concluded by the round of the program launched by Lula. “The PAC 2 was, in fact, a reheat, let’s say, of the PAC 1 itself, because several works had project delays. So, how was it not completed [ou] very little was completed, you ended up creating PAC 2”, he said. The founding partner of Inter.B Consultoria, Cláudio Frischtak, assessed that “rationality is lacking in investments in infrastructure in the country”. Frischtak adds that Brazil invests “little and badly” in infrastructure. According to data from the consultancy, in the last two decades, the country invested around 2% of the Gross Domestic Product (GDP).

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