Second installment of the 13th salary will inject R$ 112.9 billion into the economy

With the obligation to be paid by December 20, the second installment of the 13th salary should inject R$ 112.9 billion into the Brazilian economy, according to a survey by the National Confederation of Goods, Services and Tourism (CNC).

With calculations that cross data from the IBGE (Brazilian Institute of Geography and Statistics) with the level of indebtedness of families, the research also shows that the main destination of this second installment will be the payment of debts, with R$ 42.7 billion, 38% of the projected total.

Another BRL 37.2 billion (33%) should be used in commerce, BRL 19.6 billion (17%) in services and BRL 13.5 billion (12%) for savings.

Of the more than R$ 37 billion that should go to retail, the most benefited segments should be hyper and supermarkets, with R$ 15.5 billion, clothing and footwear, with R$ 10.5 billion, in addition to establishments specialized in housewares, with R$ 4.34 billion.

Fábio Bentes, an economist at CNC, points out that, historically, for each percentage point of commitment of income, the consumption intention drops 1.1%.

If the improvement in the job market, with the increase in occupancy, and the deceleration of inflation are reasons to be celebrated, he points out that the high interest rate and the indebtedness harm the retail sector.

“Data from the Central Bank show that the average commitment of income, excluding housing loans, is consuming almost a third of income due to debt. In the face of uncertainties, a change of government, nobody knows how the economy will be next year, it is normal to expect that trade will be in second place in the allocation of the 13th salary”, he said to CNN 🇧🇷

According to the CNC survey, the payment of the 13th salary, with the two installments, will add up to R$ 251.6 billion this year, an amount 6.4% higher compared to 2021, after discounting inflation.

“As we had a large increase in employment throughout the year, the total mass of the 13th salary increased. This is obviously good for the economy in general, but, for the second year in a row, paying debts will be a priority for those who will receive the second installment”, he added.

Active workers represent 56% of the beneficiaries, while retirees and pensioners account for 36%. Each person with a formal contract should receive, on average, R$ 2,870. Last year, the estimated average value was R$ 2,868.