Guedes says that FGTS from active and inactive accounts will be released every year

Minister says that value injected into the economy should be around 30 billion this year and 12 billion in 2020, considering active and inactive accounts

The Minister of Economy, Paulo Guedes, said this Tuesday, the 23rd, that the release of the Severance Indemnity Fund (FGTS) should be around 42 billion reais, 30 billion of which this year and 12 billion in 2020 , considering active and inactive accounts. The minister stated that there will be news in the official announcement of the measure on Wednesday.

In addition, according to him, withdrawals will be allowed every year. Earlier in the evening, the spokesman for the Presidency, General Rêgo Barros, stated that withdrawals should be around 500 reais per account. Guedes, however, did not confirm.

– I had said a month or two ago that it would be around R$ 42 billion. It will be just like that. It should be around R$30 billion this year, around R$12 billion next year. It's the R$ 42 billion I mentioned, but you'll see that there are news, there are interesting things – said the minister.

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And he added, “The past government released only inactive ones. We're going to drop active and inactive. They released only once. We'll let go forever. Every year there will be,” he added. soon talking to journalists after participating in an event at Palácio do Planalto, for the launch of the Novo Mercado de Gás.

The release of FGTS and PIS resources is one of the ways found by the government to stimulate economic activity at a time when the GDP is practically stagnant.

The government's official forecast is for a growth of just 0,8% in 2019. The withdrawal, however, is limited to avoid a decapitalization of the Fund, which finances housing and infrastructure works. The measure is viewed with concern by members of the FGTS Board of Trustees, as withdrawals could compromise the Fund's budget.

The injection of R$ 30 billion this year would be the result of two measures. The main one, with an impact of BRL 28 billion, would be the release of withdrawals of up to BRL 500 per account. Thus, if a worker has three FGTS accounts, he can withdraw up to R$1.500. The remaining BRL 2 billion would come from the release of PIS/Pasep withdrawals.

The R$ 12,5 billion next year will be the result of the new annual withdrawal model. As of 2020, the withdrawal must vary according to the balance of each worker's account. The percentage can vary from 10% to 35%, and those who have more money will have a smaller percentage to withdraw. Withdrawals would always be authorized in the month of the worker's birthday, which will have two months of tolerance to withdraw – who has a birthday in April, would have until June to withdraw, for example.

Government will link the port of Itaqui, in Maranhão, to the port of Santos by rail.