States can have 20% of pre-salt resources in exchange for support for Social Security Reform

Resources to be given to the states would come from the Pre-salt Megaauctions signing bonuses where the government hopes to raise R$ 106 billion

The government, through its economy minister, Paulo Guedes, signaled to the states that it accepts to distribute among them a portion, which should be 20%, of the signing bonuses that the government has to receive from the winners of the pre-salt mega-auctions in the act of signing the concession contract.
On the other hand, the government expects the support of the governors and their bases, in the vote on the pension reform that the government is promoting.

The government also has to pay Petrobras, US$ 9 billion (R$ 33,6 billion), for the revision of the contract for the so-called onerous assignment of pre-salt exploration, but for that you need to approve the amendment that changes the spending ceiling.
The mega auction of the transfer of rights surplus will take place at the end of October and it is with these resources that the government counts on to get the support of the states.

The deal

Paulo Guedes even considered distributing up to 70% of the pre-salt Social Fund revenues, but was deterred from the idea due to the current debt situation of the public coffers.

The signing bonus and the pre-salt social fund are different revenues, so the government will need to include the payment to Petrobras in the list of expenditure exceptions at the ceiling limit.

The only expenses that today are outside the ceiling are constitutional transfers, extraordinary credits, capitalization of state-owned companies and Justice expenses with the elections.

For all these reasons it is not an easy negotiation, but it is essential for the government to be able to distribute pre-salt revenues with the states.

See why 5 more oil companies want the transfer of rights to be auctioned! Check it out in the article here!

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