Forgot or don't want it anymore?
And the banks spent the month of June still awaiting the redemption of a total of R$7.07 billion “abandoned” in the banks. Redemption is still possible due to the program created by the Central Bank called SRV - Receivable Values Redemption System. Of this total, R$5.7 billion comes from approximately 36 thousand individuals. Another R$1.3 billion belongs to 2,700 CNPJs (Your Money).
PIS/PASEP balance available
Speaking of balances to be withdrawn from banks, others that are available with their values updated in June were the PIS/PASEP quotas. Workers with resources in these quotas can withdraw until August 5th , as well as choose to receive payment through the FGTS application. In total, the amount of R$25.4 billion is available for withdrawal for a total of 10.5 million workers. This withdrawal will probably not be largely forgotten until its deadline (Exame Invest ).
Unroll already unrolled
While there are people who are stalling to get their money from the bank, there are many people who need financial help to pay off their debts. And in June, the Desenrola program was approved by Provisional Measure to help part of the population pay off their debts registered with Serasa and SPC Brasil, relating to amounts that do not exceed R$5,000.00. For those who have debts of up to R$100.00, they will simply be denied (Serasa).
The exchange of jabs in the "fight" continues: Selic maintained at 13.75% at the June meeting
Copom doesn't want to hear a lot of talk. Even with all the political and market pressure, he was not intimidated and gave another jab by maintaining the Selic at 13.75% at the last meeting in June. There was a strong prospect of the beginning of the downward cycle already at this meeting, given the approval of the final version of the fiscal framework. However, he left a sign that August is different waters, yes you can download it ( MoneyTimes ). But the government does not seem willing to wait too long and responded with another jab : it requested public explanations from the BC directly to the population, just as members of the ruling party filed an official request for the BC president to be removed (SBT News; Jornal da Paraíba).
The unexpected... gas went down again
Last month there was a reduction in fuel prices by Petrobras, reaching consumers slightly. But it was already reimbursing it at the beginning of June with the ICMS and resuming price increases (GPFA). Unexpectedly, the company made another cut in June, reducing R$0.13 per liter of gasoline for distributors. The expectation is that the final consumer would reach up to R$ 5.33 . Other fuels continued to have the same values (Correio Braziliense).
IPCA-15 slows down, with pull from cars and fuels
Although the reduction in temporary subsidies for car prices is still a long way from actually making them popular, it at least contributed to lowering the IPCA, along with the unexpected drops in fuel offered by Petrobrás. Result: the index rose just 0.04%. The decline in the food and beverage group was another factor that also helped to slow down the IPCA ( InfoMoney (b)).
IGP-M in historic deflation
And the IGP-M was already accumulating deflation, and with the drop in fuel prices this month, the final kick was given to launch the index into the biggest deflation in its historical series with a drop of 1.93% in June, accumulating in 12 months a deflation of 6.86% (Forbes).
Americanas: the financial hole has doubled
In June, the report was released informing the real hole the company was in, that is, its financial hole resulting from its accounting entries with suppliers: R$45 billion. Simply more than double what was announced in February... It was carried out by an independent committee hired by the company itself (Band).
S&P became more confident in Brazil, but not much...
Standard and Poor's (S&P), Moody's and Fitch are always seen and analyzed by countries and markets. So there's no way around it: if a country wants to attract foreign investment, it's best not to fall into these risk classifications. Do they have problems? Yes. The banks that plunged the world into a global financial crisis in 2008 were top in these rankings. Maybe they should do a rating of the ratings, lol. But while that doesn't happen, what is known is that in June S&P improved the outlook for Brazil's sovereign rating, going from stable to positive. Grade didn't even increase! But it became a signal for future increases. The improvement was mainly a reflection of the absence of economic setbacks to date. Until recently , their perspective that the Brazilian economy would go downhill was strong ( InfoMoney (a))
GDP forecast grows, with soybean pull
"It's raining soybeans" would be the best expression for the moment. The latest Focus bulletin estimated an increase in GDP in 2023 for Brazil, reaching 2.10 %. Soybean production was responsible for 22% of this growth (0.5%), driven by record production this year. Consequently, this commodity has been the flagship of agribusiness as well (SNA). That's a lot of soy!
FGV studies, however, are wary when they indicate that this immense volume of agricultural production is centered too much on soybean production in the South and Center-West regions, indicating the precariousness of this growth and which deepens inequality with the north and northeast (SNA) .
Concentrated coffee
No, we are not referring to some kind of strong coffee. But rather from another agricultural centrality of national production, but now coffee. Despite coffee growing being spread across the 5 regions of the country, the Southeast has a strong concentration of this production, obtaining to date simply 88.4% of the year's revenue (until June) from these crops. Therefore, it raised R$45.54 billion. Other regions: Northeast with 5%; North, 4.2%; South, 1.4%, and Central-West totaling just 1% (Embrapa).
Gas surges again... in Europe
After the main gas crisis, with sharp increases suffered last year due to shortages caused by the war in Ukraine, the price stabilized. But June saw another strong rise. The culprit: the hot European summer ahead. June registered an increase of 20%, with increases during the week that reached 38.25% - equivalent to the peak recorded during the war crisis (Jornal de Negócios).
References: Band , Correio Braziliense , Embrapa , Exame Invest , Forbes , InfoMoney (a) , InfoMoney (b) , Jornal de Negócios , Jornal da Paraíba , Seu Dinheiro , MoneyTimes , Serasa , SBT News , SNA .