Despite the country’s deficiency in basic sanitation and urban infrastructure, most of the Government Severance Indemnity Fund (FGTS) budget for such areas was not used in 2015. FGTS data show that the lack of feasible projects, meeting credit risk parameters and high debt of public entities represent the main problem in realizing the higher installment of resources destined to investments. Urban mobility applications were also hindered by public investments decrease.
In basic sanitation, as per Cities Department information, budget’s initial amount for 2015 was BRL 7.5 billion, which was reduced to BRL 5.1 billion throughout the year. Hiring, according to the ministry, sum up to BRL 2,138 billion representing a 42.2% execution.
“Regarding the hiring percentage checked until now, it was due to not having new selective venture processes throughout 2015, prioritizing ventures already chosen, in addition to factors such as the need for borrowers to meet credit risk parameters; and, in the case of public borrowers, to debt difficulties,” explained the ministry, through the communications department.
In the case of urban infrastructure, the budget approved was BRL 12 billion. During the year, this amount was reduced to BRL 9 billion, but BRL 717,571 million were effectively released (7.97% of the final budget), according to data on financial execution taken from FGTS’s website. In the housing are, budget’s release was close to 100%.
President Dilma Rousseff bets on civil construction trying to improve the economy performance. The idea is to use FGTS, for example, which received BRL 22 billion from the Treasury as “fiscal maneuver” payment to increase investments, especially in infrastructure.
The problem, in the case of FGTS, is that there are resources, but they are not using them due to lack of projects or debt. Exception is the housing area, which is concentrated in financing to home ownership. In this segment, the fund budget is high during the year and fully used.
According to the Cities Department, it is expected that sanitation, whose preliminary number for 2015 reached 42.2%, achieves a higher level by the end of this year. “Such number is preliminary, since there may have been some hiring and it has not yet been entered in the financial agent system,” emphasized the Cities Department, through the communications department.
Final hiring position should be closed by the end of this week. “FGTS budget balance for 2015 (still to be hired) may be used until June 30, in case operations chosen and included in PAC are hired. Therefore, hiring made until December 31, 2015 will not represent the 2015 budget execution final position yet,” explained the Department.
According to the Department, many credit operations in 2013 and 2014 are in their final execution stage by services providers. “Regarding perspectives for 2016, our goal is to encourage the use of financing projects, and we are discussing the best strategy to be adopted in relation to new investments,” declared the Department.
Regarding the low execution of FGTS urban mobility budget, the Cities Department explained what are big, high complexity projects, that need to fulfill projects development, bidding and hiring stages in order to, according to works ongoing measurements, values are released. “Due to public investments shrinkage in 2015, we sought to direct leverage of urban mobility investments with private funding,” declared the Department.
FGTS Technical General Coordination informed Valor, through the Labor Department communications office, that there is no forecast of change in FGTS budget approved for 2016 due to resources received from the Treasury.
“Until now, the Trustee Council did not receive extraordinary request for change,” emphasized the technical coordination. According to the annual budgetary calendar, FGTS Trustee Council will promote the revaluation of investments foreseen for the year in May.
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