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Temer: airport concessions and revised Moody's outlook show confidence in the country

Economic Recovery

In a statement released on social networks, Temer says he believes in restoring the credibility of the Brazilian economy

Two events occurred between yesterday (15) and Thursday (16) have reinforced the signs of renewed international confidence in Brazil’s economic recovery. The revision of Brazil’s rating by Moody’s and the results of the auctions of four airports as part of the Investment Partnership Programme (PPI) show renewed confidence in the country.

In a statement released on social networks, President Michel Temer highlighted the success in the auctions for concession of the Florianopolis (SC), Fortaleza (CE), Porto Alegre (BA) and Salvador (BA) airports. The government expected to raise approximately R$ 3 billion with the auctions, but the final amount was closer to R$ 3.7 billion.

“There were those who said that there would be no bidders, when in fact there were several. The surplus [from initial forecasts] was of about R$ 700 million. An absolute success,” he said.

Moody's

The president also celebrated Moody's more optimistic perspective of Brazil. The ratings agency has revised its outlook of the Brazilian credit rating from negative to stable. For Temer, this was the result of the drop in inflation and interest rates and the increased investments in the country.

"This transition from negative to stable outlook for Moody's is another fact that leads us to believe more and more in the economic recovery and development of our country. Brazil is increasingly heading in the right direction,” he said.