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Oil-Producing Municipalities in Rio de Janeiro Will Invest a Good Portion of Revenue for Paying Employees, Debts, and Public Administration
Oil-producing cities in the Rio de Janeiro region and the interior of the state will use a large portion of these resources to settle the payroll of their employees, debts, and other sectors of their administrations. After a long period of low production in the oil sector, recent policies to increase productivity in the Santos and Campos Basin, along with the rise in the price of oil on the international scene, will multiply their revenues by three times over the next 10 years.
The Rio state government will use almost the entire amount of this money to pay off debts of the Rio de Janeiro Social Security. Last Friday (13), the government issued state dividends in the form of international bonds exceeding 1 billion reais, using future earnings from oil royalties as payment collateral, trusting that the sector will recover and boost the economy of Rio de Janeiro.
See the List of Municipalities That Received Oil Royalties
- Maricá R$ 746.782 million
- Niterói R$ 615.163 million
- Campos dos Goytacazes R$ 466.179 million
- Macaé R$ 401.505 million
- Rio de Janeiro R$ 169.594 million
- Cabo Frio R$ 122.487 million
- Rio das Ostras R$ 166.108 million
- São João da Barra R$ 114.529 million
- Saquarema R$ 72.742 million
- Angra dos Reis R$ 70.579 million
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