Brasília – Investments grew in Q3, according to data released this Wednesday (04) by the Institute for Applied Economic Research (IPEA). The IPEA Gross Fixed Capital Formation (GFCF) index of Q3 climbed 9.6% over Q2. The result was affected by oil rigs import operations.
According to IPEA, the Repetro-Sped, the new special regime that lifted taxes on oil and natural gas exploration products, affected it significantly, in the calculations of both the GFCF and the Brazilian trade balance. Under the new regime, companies do not enjoy benefits for oil rigs export any longer. Due to this, some of the oil rigs made abroad are being imported. Thus, the ownership of machinery and equipment goes from subsidiaries abroad to companies based in Brazil, affecting investments positively.
In comparison to the same period of 2017, investments increased 13.1% in Q3. The year-over-year until September performance was also positive: up 6.1%. In comparison to the previous month, there was a decline.
Translated by Sérgio Kakitani
