Sunday , November 29 2020

FGTS predicts a 40% reduction in the total result for 2020

With the increased unemployment in 2020, the profit for FGTS (the guarantee fund for seniority) can be negatively affected. Members of the FGTS Board of Trustees inform that the amount will reach R $ 6.9 billion in December.

In 2019, FGTS ‘net profit was $ 11.3 billion. Of the total, R $ 7.5 billion was distributed to workers. If the estimate for this year is confirmed, it will be reduced by 39%.

Data from the Ministry of Economic Affairs’ Caged (General Register of Employed and Unemployed) points out that due to the economic crisis caused by the pandemic, 558,597 people were unemployed in the country from January to September.

“With the increase in unemployment, more people withdrew funds from the fund in 2020 and started other types of withdrawals, such as the anniversary. This will affect the fund’s results, says one of the members of FGTS’s curator council.

The budget presented to the fund’s advisers predicts an increase in the coming years. Therefore, profits will be $ 7.3 billion in 2021, $ 7.7 billion in 2022 and $ 7.6 billion in 2023.

“These estimates are conservative and the result can be improved with increased employment. This is due to the pace of economic recovery. I believe that profits can increase in the next few years “, he noted.

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