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Guedes Says Cannot Miss Window To Privatize Eletrobras

BRAZIL
  • Economy Ministry holds press conference to disclose bill on 2023 budget guidelines, locally known as PLDO, starting at 3pm Brasilia time. Brazil’s Treasury Secretary, Paulo Valle, and Budget Secretary, Esteves Colnago, will partake in the presentation.
  • Government decided to grant a 5% salary readjustment to all civil servants as of July, Valor Economico newspaper reports, citing sources with direct knowledge of the matter.
    • The decision was made in a meeting between Economy Minister Paulo Guedes and Chief of Staff Ciro Nogueira, with the approval of President Jair Bolsonaro
    • Without enough space in the spending cap, a reallocation of funds from other areas will be necessary, according to the article. Readjustment would cost around 5b to 6b reais this year.
    • Government workers were displeased with the potential 5% salary increase and now ponder broadening demonstrations, Folha de S.Paulo newspaper reports.
  • Brazil Court to Vote on Eletrobras Privatization Next Wk: Guedes (BBG)
    • Losing the window to privatize Eletrobras now is to fall into a dark future, said the Brazilian Minister of Economy at an event at Palácio do Planalto.
    • If the operation is delayed, we may miss the opportunity to save Eletrobras, Guedes Said.
  • *Petrobras approved in a shareholders meeting Wednesday a new board of directors, including Jose Mauro Ferreira Coelho, appointed by the government to be the next CEO.
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