The government reduced the forecast of growth of the Gross Domestic Product (GDP) from 2.5% to 1.6% this year, according to the third quarter earnings and expenses report. As a result, the nominal GDP growth estimate goes from US$1.85bn to US$1.83bn.
Planning Minister Esteves Colnago said the interim measure that froze the price of diesel - the so-called "truck purse" - made fiscal space that the government had dropped from US$2.12bn to US$ 487 million. "The previous fiscal clearance of US$1.64 billion was consumed after the strike," he said.
The comment was made after the release of the Report of Evaluation of Revenues and Expenditures of the third bimester. The Ministry of Planning document also showed that the space for spending increase within the spending ceiling defined by the legislation is only US$176 million.
Ana Paula Vescovi, Executive Secretary of the Ministry of Finance, said the report included the withdrawal of the Lotex auction - the new official lottery mode - from this year's revenue projection. The estimated resources with the process were US$144 million.
The studies prepared by the BNDES, concluded in August last year, defined a minimum grant value of US$144 million. However, the Lotex auction was canceled because it did not receive any proposal from the international companies that had expressed interest. The Secretariat for Fiscal, Energy and Lottery Monitoring (SEFEL) and the National Development Bank (BNDES) decided to continue with the privatization of the instant lottery and are already working on new edicts.
The forecast of revenues with concessions and permits increased by US$114 million with the inclusion of the Porto Primavera (CESP) auction that the government expects to raise US$291 billion. On the other hand, the revenue forecast of US$144 million were withdrawn from the sale of Lotex. There were no changes in forecasts for oil auctions.
Source: GMB
