Page 6 - ABCR ANNUAL REPORT 2016
P. 6

6THE CONCESSIONS’ SECTOR IN CRISIS: CHALLENGES AND OPPORTUNITIESSCENARIO OF CHANGESIn 2016, Brazil experienced another year of economic and political crisis, in an environment of instability that was re ected in all sectors - industry, commerce and services. The scenario, which had been worsening since 2014, reached its climax in 2016, with the process of impeachment and the tenure of a new government, in addition to the progress of the investigations of Operation Lava Jato.Also in this complex political-economic situation, the Brazilian Gross Domestic Product (GDP) recorded a fall in the last two years - 3.8% in 2015 and 3.6% in 2016, according to the Brazilian Institute of Geography and Statistics (IBGE). The downward trend in these two years was larger than that recorded in the years 1930 and 1931, when economic activity declined 2.1% and 2.3%, respectively.For the highway concessions sector, the combination of the crisis and the government’s increased public spending - without a proportional increase in revenue - impacted on operation costs, creating dif culties for some concessions. In addition, the alteration of the  nancing conditions pledged by public banks at the time of bidding, the obstacles to environmental licensing and the increase in the price of asphalt by 90% compromised the investment schedule of the projects of the 3rd Stage of the Program of Federal Concessions.Beginning in the second half of 2016, a movement was initiated by the government and within the sector itself, in order to strengthen and accelerate the debate on the essential measures to promote the return to growth of the country, from the development of new concessions in infrastructure (ports, airports, highways and others). The agenda of change saw six federal highways, granted during the 3rd stage, from 2013 (see more in the table on page 9). The federal government then began considering the prospect of altering the highway contracts already auctioned, lengthening the deadline of construction works, to guarantee the investment capacity and the operational vigor of the concessionaires.


































































































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