The contribution from the National Treasury to Correios should be below the R$ 6 billion initially considered by the state-owned companysaid this Monday (8) the Minister of Finance, Fernando Haddad.
According to him, the government is still evaluating alternatives to reinforce the company’s cash flow, including possibility of combining the contribution with a loan, which could be released later this yearalthough there is no final decision.
Haddad highlighted that there is fiscal space in 2025 for a contribution, but reinforced that the measure is not defined.
“I would even have [espaço]but it is not something that has been decided”, he stated when talking to journalists outside the Ministry of Finance.
The minister reiterated that any financial aid will be conditional on the state-owned company’s restructuring plan.
“We are always conditioning everything to a restructuring plan. Correios needs to change, it needs to be restructured”, he said.
Different contribution formats
According to Haddad, the contribution of R$6 billion should not be confirmed in this amount.
“Not that value. It’s a lower value than that as far as I know”, he declared.
Initially, Correios was considering receiving a cash boost of R$6 billion from the Treasury to cover losses of the same amount accumulated from January to September.
The contribution can be made possible through extraordinary credit or via the National Congress Bill (PLN), if the government deems it necessary. Both alternatives are still being evaluated by the economic team.
Loan under negotiation
In addition to the direct injection of resources, the government discusses offering guarantee for a loan to Correios. The negotiations intensified after the Treasury denied a request for R$20 billion made by the state-owned company.
The new proposal foresees reducing the value of credit to between R$10 billion and R$15 billion, in order to allow the company to obtain lower interest rates on the market. It was precisely the high cost of the operation that motivated the Treasury’s initial veto.
Haddad said that the loan could be approved later this year, but noted that negotiations with banks continue to hold back progress.
“It is a possibility, but we are not playing with a possibility just because of negotiations with the banks,” he stated.
The minister made the statements after meeting with the president of the Chamber, Hugo Motta (Republicanos-PB), for around four hours on Monday afternoon.
The meeting, at the official residence of the Presidency of the Chamber, discussed projects that the government wants to be approved before the vote on the 2026 Budget, scheduled for next week.
