The Brazilian Machinery and Equipment Industry Association (Abimaq) is expected to end 2022 with a 5% drop in revenue accounted for by its more than 1,700 members, as stated this Monday (5) by the entity’s executive president, José Velloso, minutes before the start of the association’s annual get-together lunch.
Velloso recalled that initially there was a forecast for an increase of 2% to 3% in revenues from the machinery industry, but the monetary policy adopted by the Central Bank, with an increase in the Selic rate and effects on long-term interest rates, inhibited business.
Machinery industry production should be 1% lower this year compared to last year, according to Velloso.
2023
For 2023, the expectation is for stability in the revenues of the machinery and equipment industry and growth of 0.5% in the manufacturing industry.
Consulted by the transition team
Velloso commented that the entity was consulted by the transition team of the president-elect, Luiz Inácio Lula da Silva (PT), to whom Abimaq emphasized the need to promote a “competitiveness agenda”.
Ensuring legal security, economic freedom and reducing the “Brazil cost” were highlighted by the executive, in addition to the implementation of administrative and tax reforms.
According to Velloso, to increase industrialization in the country, the priority is tax reform.
Source: CNN Brasil
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