Access to emergency credit promised by the government to companies affected by US tariffs will depend on the approval of the National Congress, according to the Secretary of Economic Policy of the Ministry of Finance, Guilherme Mello, in an interview published on Saturday (16) by the newspaper The globe.
“PLP approval is very important for measures to reach all companies, especially micro, small and medium. Without this, a good portion will have a hard time accessing credit,” said Mello.
Although part of the package has been made possible by provisional measure (MP) already in force, other actions – especially those involving subsidized credit lines – will only be unlocked with the approval of the Complementary Bill (PLP) that accompanies the proposal.
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Sovereign Brazil Package foresees R $ 30 billion in credit
Announced on Wednesday (13), the baptized package of Brazil sovereign foresees the release of up to R $ 30 billion in credit for Brazilian exporters affected by 50% tariffs imposed by the United States. The MP needs to be approved by Congress within 120 days to avoid validity.
The contingency plan has as its counterpart to maintain jobs by companies that access resources. According to Mello, the rule will be flexible:
“We will regulate the criteria for maintaining the amount of jobs. There will be flexibility because some companies will be very affected, some less.”
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Chamber must prioritize MP vote
The mayor, Hugo Motta (Republicans-PB), stated that the house should prioritize the analysis of the provisional measure, given the urgency generated by the impact of tariffs. The speech took place on Thursday (14), one day after the publication of the MP.
The elevation of rates by the government of Donald Trump has reached strategic sectors of the Brazilian exporting agenda, such as processed, chemical and steelmakers, and already affects the expectations of growth of companies aimed at the foreign market.
