President Luiz Inácio Lula da Silva received, this Wednesday (14th), retail businessmen to talk about the demands of the sector. The main topics were the high level of interest rates in Brazil, the granting of credit, fair competition in the sector and tax reform. The information was supplied by the vice-president and minister of Development, Industry, Commerce and Services, Geraldo Alckmin. He spoke to the press after the meeting, which took place at the Planalto Palace, with the participation of state ministers. According to Alckmin, “there is no reason” for the current level of the basic interest rate, the Selic, which is at 13.75% per year. According to him, future interest rates are falling, while real interest rates continue to rise. “This greatly harms economic activity, that is, it harms employment. And, in reality, interest rates are not at a standstill, real interest rates have been rising for several months, because as the Selic remains at a standstill at 13.75% and inflation is falling, real interest rates are rising in Brazil for no reason. for that. There is no growing demand, on the contrary, we have just seen a lack of growth in the latest retail figures. She [a taxa de juros] It is extremely worrying,” he said. The Selic is the main instrument used by the Central Bank to reach the inflation target because the rate affects prices, since higher interest rates make credit more expensive and stimulate savings, avoiding heated demand. In March 2021, the agency began a cycle of monetary tightening, amid rising food, energy and fuel prices, raising the base rate to its highest level since January 2017, when it was also at 13.75% per year. The decision to maintain the Selic at this level has been criticized by the federal government, which demands a reduction to boost economic growth. The retail sector also expects a decline in interest rates in the short term, according to the president of the Institute for Retail Development (IDV), Jorge Gonçalves Filho. “We know that the Central Bank has the rite for this to happen. We noticed that several programs that will be good for retail, for the market, depend on this too, not only the question of the Selic, of the Central Bank, but the interest charged on the credit card, which is very high, and which is the very market that determines”, he said. In addition to the Selic, banks consider other factors when defining the interest charged from consumers, such as the risk of default, profit and administrative expenses. Crédito Gonçalves Filho highlighted that retail sales had a regression in the first four months of the year, “not very strong, but it existed”, and that the possibilities of recovery were presented, such as measures to boost credit and investments in other sectors that reflect on the retail, as infrastructure. “That old triangle: income, employment and credit. So let’s help with the credit issue. Based on the measures we heard, which are about to be announced, it should improve [a atividade produtiva] and we believe that retail will have a better second half”, said the president of IDV. “If you are moving a market right next to that store, a building, for example, those who have it there will consume retail, so sometimes the impact is indirect. We can help directly with credit, but also by increasing economic activity retailers will benefit,” he added. For the president of the IDV, Gonçalves Filho, the meeting with the president was productive. “We deal with very important issues for retail. We can talk about the issue of retail illegality, the initiatives that the government has already taken on the issue of cross border [comércio transfronteiriço] digital retail, the great possibilities they have to promote retail through credit, collaboration in the Desenrola Program [de renegociação de dívidas], the issue of retail employability, how it can multiply the issue of the first job, since retail is the largest employer in the country”, said Gonçalves Filho. Regarding the tax reform, the president of the IDV said that the entity will collaborate in the negotiations “showing how retail is at the end”. According to Alckmin, the points of the reform were debated in a very positive way and President Lula reiterated that the government’s “obsession” is the generation of jobs and income in the country. Electronic commerce The federal government is working on a new way of charging taxes on international remittances, after controversy involving electronic commerce. According to Geraldo Alckmin, the import of products without paying tax reached almost BRL 70 billion in 2022, almost 1% of the Gross Domestic Product (sum of goods and services produced in the country). “It is the government’s duty to maintain fair competition. [A importação sem pagamento de impostos] it doesn’t just harm established trade, it also harms Brazilian industry,” said Alckmin. According to the president of the IDV, the government and the retail sector are also working on drawing up a compliance plan. “For foreign companies, digital platforms and foreign trade that are in Brazil to participate, invest and pay taxes. So we want nothing more than to be equal in terms of competition,” he said, explaining that the plan should come into effect in July. Present at the meeting with President Lula were representatives of the retailers Magazine Luiza, Saint-Gobain, Grupo Mateus, Livraria Cultura, Ri Happy, Lojas Renner, Caedu, McDonald’s, Mundo Cabelereiro, Pague Menos, Petz, Quero-Quero, RaiaDrogasil, Óticas Carol, Grupo Boticário, Telhanorte, Grupo Pão de Açúcar, Grupo Soma and Carrefour. In addition to IDV representatives, the General Union of Workers (UGT) participated in the meeting, as well as the president of Caixa Econômica Federal, Rita Serrano, and the directors of the National Bank for Economic and Social Development (BNDES), Teresa Campello and Nelson Barbosa .
Agência Brasil
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