Amidst a deficit, the president of the Post Office had a 14% increase in two years

Since taking over as president of Correios in 2023, Fabiano Silva dos Santos has seen his salary increase from R$46,727.77 to R$53,286.39. The 14% increase in the director's remuneration over two years contrasts with the situation at the state-owned company, which closed last year with a deficit of more than R$2.6 billion .

The increases also contrast with the measures announced by the state-owned company to contain the deficit. In an announcement made on Monday (12), Correios presented a package that includes the suspension of vacations and the reduction of working hours with a proportional adjustment of remuneration.

The monthly salary of the president of the state-owned company was R$46,727.77 until March 2023, rising to R$50,933.27 between April 2023 and March 2024. In April of last year, the monthly amount jumped to R$53,286.39.

It wasn't just the salary of the president of the Post Office that saw a jump under the government of Luiz Inácio Lula da Silva (PT). The directors of the state-owned company also saw a raise, going from salaries of R$40,632.85 in the first year of Lula's government to R$46,336.00 in this third year.

The increases, however, should stop there. In a note to Gazeta do Povo , Correios states that the Board of Directors has already defined that, in 2025, there will be no salary adjustment for Correios managers.

The press office of Correios highlighted that the restructuring carried out in 2023 “strictly” followed the authorizations of the Secretariat for Coordination and Governance of State-Owned Companies and the deliberations of the Ordinary General Assembly of the state-owned company.

Correios also justified the adjustments by pointing out that the 9% granted in 2023 is related to the percentage granted to federal public servants. The adjustment made in 2024 would correspond to inflation (IPCA) for the period. “The last previous adjustment had been granted in 2016. Thus, the accumulated adjustment in the last two years was 14%”, explained the state-owned company in a note.