Communications Minister Hails Progress on 5G Auction, Govt Scraps Mint Privatisation

LOCAL NEWS

• Communications minister says that the notice with the rules for the auction of 5G should come within the next two weeks with an auction in October "for sure."
  • After being approved by the TCU, notice goes back to Anatel for sign-off which could even be published as early as within a week. Govt retains its goal of all major capitals having 5G by July 2022 with a total value of $46bn for the project
• Govt withdraws plans for privatising the Casa da Moeda (mint), responsible for production of paper money and passports.
  • This is the second time the process to privatise the mint has failed. Bolsonaro must issue a decree making the decision official
• Govt decides to reopen negotiations regarding the extension of payroll-exemptions for 17 sectors of the economy. Analysts warn that ending this benefit could see 500k job losses
• OdeBrecht's creditor banks, now Novonor, may assume the sale of the 50.1% stake in Braskem if it is not clear that the process will be completed by year end

Data:

• 1400BST/0900ET: July Formal Job creation exp at 300k vs 309.114K prior