The city hall of Rio de Janeiro improved its score in relation to its Payment Capacity (Capag). The assessment is made by the National Treasury based on the liquidity, savings and indebtedness of states and municipalities. It serves as a risk indicator of the fiscal situation.
According to a statement released today (9) by the Municipal Department of Finance and Planning, Rio de Janeiro has achieved grade B, after five years obtaining grade C. With the new classification, the city will have an easier time obtaining guarantees from the Union for hiring of funding.
“Federal entities classified with grades A and B are automatically authorized to carry out credit operations with the guarantee of the federal government, therefore with more advantageous financial conditions”, explains the secretary.
According to the note released, the result was achieved as a result of the initiatives adopted over the past year, including the approval of changes in tax and fiscal legislation. The transfer to the private sector of sanitation services that were under the responsibility of the State Water and Sewage Company of Rio de Janeiro (Cedae) also contributed, in addition to other factors.
“Among the measures that allowed the recovery of accounts are the increase in current and extraordinary revenues, such as the sale of real estate and Cedae’s concession resources, which rose 20% compared to what was agreed by the previous government, after renegotiation in this management”, adds the note.
