The federal government has decided not to reinstate the R$ 0.35 per liter subsidy applied to diesel, a benefit that had been interrupted at the beginning of July. The decision was announced by the Minister of Planning and Budget, Bruno Moretti, during the presentation of the Bimonthly Revenue and Expenditure Evaluation Report this Friday.
According to the minister, although the price of a barrel of oil is approaching the US$ 100 mark, the impact of international quotes on final consumer prices is not yet sufficient to require the return of the additional subsidy. Moretti highlighted that the current strategy focuses on price smoothing and that the government opted to maintain the R$ 1.12 subsidy already in effect to avoid immediate price hikes.
Despite ruling out the extra aid for diesel, the government confirmed the continuation of other fuel support measures. Among them, the R$ 0.44 per liter subsidy for gasoline was extended for another month, a measure that generates an estimated monthly cost of R$ 1.3 billion to the public coffers.
The fiscal scenario for the fuel sector has a high impact. The current diesel subsidy costs the Union about R$ 5.5 billion per month. Up to June, the total amount disbursed by the government to mitigate rising fuel prices reached R$ 14.55 billion, using resources from extraordinary credits.
To balance the accounts, the government has been using revenue from the 12% export tax on crude oil. As Brazil is a net exporter, this tax seeks to ensure that national production prioritizes domestic supply, generating revenue that has not yet been fully integrated into the Budget projections.
Regarding compliance with fiscal targets, the minister warned that the increase in fuel expenses will be evaluated in the next review of public accounts. Currently, the government maintains a freeze of R$ 17.9 billion in expenses to ensure compliance with the fiscal framework and the primary surplus target set for this year.
Sign in to comment on this article.
No approved comments yet.