01/19/2017 12h35

Small companies to get R$8.2bn in new working-capital credit lines

Valor International

A partnership with Sebrae, entily that supports  SMEs, the federal government and Banco do Brasil will release R$ 8.2 billion in two working-capital credit lines for small business starting in March. Of this total, R$ 1.2 billion through the Proger line and R$ 7 billion under BNDES's Progeren, financed by the development bank. In addition, R$ 200 million will be invested in the development of ten computerized systems to reduce bureaucracy in the companies' management. The measures are part of a new program to cut red tape and increase credit supply, announced on Wednesday by Presidente Michel Temer and Finance Ministry officials. 

At the event, Mr. Temer reassured that the next reform of his government will tackle the tax burden. "Since these [social security and labor] reforms underway, we are going to another reform, which is simplification of the tax system", he says.