Caixa Econômica Federal Plans to Reintroduce Scratchcards as Part of the Lottery Offerings in Brazil
BRAZIL (August 18, 2023) — According to local media outlets Caixa Econômica Federal’s plans to reintroduce scratchcards as part of the lottery offerings in Brazil. This initiative is part of the Federal Government’s economic strategy to generate revenue and promote inclusion in the labor market, particularly for people with disabilities. Here’s a summary of the key points:
- Caixa Econômica Federal’s Plans: Rita Serrano, the president of Caixa Econômica Federal, announced the bank’s intention to reintroduce scratchcards (instant lottery) by the end of the year. The return of scratchcards is part of a larger project aimed at diversifying Caixa’s lottery offerings.
- Scratchcards (Lotex) History: Caixa used to operate scratchcards through Lotex until 2016, when the government under Michel Temer ended the modality. However, the current government intends to reintroduce scratchcards to raise funds and promote social programs.
- Financial Objectives: The Federal Government expects to raise up to R$ 5 billion through the scratchcards, which will contribute to funding social programs and financing various initiatives.
- Caixa’s Performance and Transition: Rita Serrano emphasized that Caixa’s performance in the second quarter of 2023 has been positive, showing a 40% year-on-year growth based on credit. This performance indicates that the bank is effectively fulfilling its public role even during transitional periods between governments.
- Inclusion and Social Policy: The reintroduction of scratchcards is viewed as a means to promote inclusion in the labor market, especially for people with disabilities. The government aims to leverage the resources from the lottery bets to strengthen social programs and support individuals with lower rates of occupation, formalization, and income.
- Lotex Concession History: There has been a history of attempts to privatize and manage scratchcards through Lotex. Initial auction attempts in 2018 faced a lack of interest, and the process was revisited in 2019 with a consortium eventually winning the concession. However, due to disagreements between the consortium and the government, the process stalled, and the consortium abandoned it.
Overall, these developments indicate that the reintroduction of scratchcards could have economic and social implications in Brazil, contributing to both government revenue generation and efforts to promote inclusion and social welfare.
SOURCE: Local media reports.Tags: Brazil, Caixa Loterias