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FINANCIAL INCOME (Tables) | 12 Months Ended
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Dec. 31, 2017
FINANCIAL INCOME |
Schedule of financial income |
|  | 2017 |  | 2016 |  | 2015 |
Income from short-term investments |  | 85,153 |  | 142,965 |  | 270,742 |
Interest income and other financial income |  | 141,462 |  | 109,080 |  | 107,660 |
Financial Income |  | 226,615 |  | 252,045 |  | 378,402 |
Interest on debt |  | (1,323,448 | ) | (1,540,797 | ) | (1,471,526 | )
Monetary variation and other financial expenses |  | (402,836 | ) | (469,208 | ) | (308,840 | )
Financial Expenses |  | (1,726,284 | ) | (2,010,005 | ) | (1,780,366 | )
Exchange Variation, net |  | (4,057 | ) | 851,635 |  | (1,564,017 | )
Reversal of monetary update of contingent liabilities, net |  | 369,819 |  | — |  | — |
Gains and losses on financial instruments, net |  | (9,441 | ) | (38,930 | ) | 87,085 |
Financial result, net |  | (1,143,348 | ) | (945,255 | ) | (2,878,896 | )

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