Armando: Productive sector will suffer losses due to the R$ 100 billion withdrawal from BNDES.
In a video released by suspended President Dilma Rousseff, former Development Minister Armando Monteiro said that the measure proposed by Michel Temer's government will drastically reduce the Bank's funding sources, without any justifying benefits; "There will be harm to the productive sector, a reduction in financing lines for investments, working capital for companies, and support for exports," he stated.
247 - Former Minister of Economic Development Armando Monteiro criticized interim President Michel Temer's proposal to withdraw R$ 100 billion from the BNDES (Brazilian Development Bank) for prepayment to the Treasury.
According to Armando, the measure will drastically reduce the Bank's funding sources, without any justifying benefits. "The impact of this measure on reducing gross debt is very small, if we consider the damage it will cause to maintaining the bank's financing programs, which are essential to support the productive sector," he stated. "There will be harm to the productive sector, a reduction in financing lines for investments, working capital for companies, and support for exports."
Armando highlighted the agreements signed with the United States and countries in the Pacific basin, as well as the strengthening of regional relations. "The agreement between Mercosur and the European Union will insert Mercosur into this network of international agreements with the region that represents the most important economic bloc in the world," he stated.
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