Monday, September 28, 2026

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ThemesTheme

Industrial policy

Federal programs supporting industry and exporters: the Brasil Soberano plan, Nova Indústria Brasil, incentives for critical minerals, fertilizers (Profert) and special regimes such as Redata, with BNDES credit and Treasury tax expenditure.

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OrganizationBNDES2 shared articles ↗ThemeTrade tariffs2 shared articles ↗SectorBrazilian exporters2 shared articles ↗MacroGDP1 shared article ↗

Last 90 days

What sources are saying

BNDES opened on September 17, 2026 the enrolment for the third stage of the Brasil Soberano plan, with R$ 22.6 billion (R$ 13.5 billion from the Treasury and R$ 9.1 billion from the bank), and in two days received R$ 8.2 billion in requests across 138 operations, with R$ 1.7 billion already approved and fertilizers accounting for R$ 683 million.

Updated September 22, 2026 · 3 verified articles

Market transmission

Why it matters

Subsidized credit and tax incentives change the margins and working capital of the targeted sectors, expand the BNDES balance sheet and create spending or tax expenditure that weighs on public accounts.

Explanatory mechanism, not a forecast or recommendation.

Articles in chronological order

03
MACROBrazil

CNI survey: industrial output posts the worst August since 2015 and investment intention falls to the lowest since 2020

The CNI Industrial Survey released on September 21 shows the production index at 46.3 points in August, down 4.7 points from July and the worst result for the month since 2015. Investment intention fell 1.3 point in September to 51.3 points, the lowest since August 2020 and the fourth straight decline. Employment stood at 48.2 points, capacity utilization fell to 69% and inventories to 49.5 points. The survey polled 1,403 companies between September 1 and 11.

2 sourcesSep 21, 2026
MACROBrazil

BNDES receives R$ 8.2 billion in Brasil Soberano 3 requests in two days and has already approved R$ 1.7 billion

BNDES received R$ 8.2 billion in credit requests under the third stage of the Brasil Soberano plan in 138 operations filed on September 17 and 18. R$ 1.7 billion has already been approved: R$ 794 million for group 2 (industrial sectors such as textiles, chemicals, pharmaceuticals, strategic minerals and fertilizers), R$ 680 million for group 1 and suppliers hit by US tariffs and R$ 251 million for exporters to the Persian Gulf. Fertilizers account for R$ 683 million. The plan has a R$ 22.6 billion budget, R$ 13.5 billion from the Treasury and R$ 9.1 billion from BNDES.

2 sourcesSep 19, 2026
MACROBrazil

BNDES opens enrolment for the third phase of Brasil Soberano with R$ 22.6 billion for companies hit by tariffs and the war

BNDES opened on September 17 the enrolment protocol for the third stage of the Brasil Soberano plan, with R$ 22.6 billion, of which R$ 13.5 billion from the Treasury and R$ 9.1 billion from the bank. Exporters hit by US tariffs and their suppliers, strategic industrial sectors and exporters to the Persian Gulf affected by the war can apply, with interest of 4.3% to 17.5% a year and a requirement that at least 1% of revenue come from those markets.

3 sourcesSep 17, 2026