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Brazil expands fuel subsidies and tax cuts to combat rising oil prices
The Brazilian federal government has announced an expansion of fuel subsidies and tax reductions to mitigate the impact of rising international oil prices caused by geopolitical conflicts in the Middle East. The package, estimated to cost approximately R$ 7 billion per month, includes a reduction of R$ 0.63 per liter in PIS/Pasep and Cofins taxes on gasoline, bringing the federal tax burden to R$ 0.16 per liter. Additionally, federal taxes on hydrated ethanol will be temporarily zeroed.
To support the transport sector, the government authorized an initial economic subsidy of R$ 1 per liter for road diesel. This measure will be regulated by the Ministry of Finance and reviewed every 30 days. The diesel subsidy is expected to cost roughly R$ 5 billion in September alone.
Alongside fuel measures, the government released R$ 375 million in extraordinary credits for the National Program for Strengthening Family Agriculture (Pronaf) to support food production. The total extraordinary credit authorized for fuel subsidies and family farming amounts to R$ 6.98 billion.
Entities
ANP · Agência Nacional do Petróleo, Gás Natural e Biocombustíveis · Brasil · Brazil · Brazilian Congress · Brazilian federal government · Bruno Moretti · Davi Alcolumbre · Luiz Inácio Lula da Silva · Ministry of Finance · Ministry of Mines and Energy · Ministry of Planning and Budget
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Spain has provided approximately 1.1 billion euros in fertilizer support, compared to 26 million euros from Portugal.
- [○ 1 SOURCE] The new expense is expected to exceed 15 million euros.
- [○ 1 SOURCE] The Portuguese Government approved an extraordinary support for the agricultural sector to mitigate rising fuel prices.
- [○ 1 SOURCE] The CAP suggests the Portuguese Government should provide between 170 and 200 million euros in support to restore competitiveness against Spain.
- [○ 1 SOURCE] A discount of 10 cents per liter of colored and marked diesel will be resumed until December.
- [● 21 SOURCES] The government authorized an initial subsidy of R$ 1 per liter of diesel. portaldiarioderondonia.com · www.atibaia.com.br · noticiabrasil.net.br · www.diariodocentrodomundo.com.br · www.jornale.com.br · +11 more
- [● 27 SOURCES] The Brazilian federal government expanded measures to contain rising fuel prices following a spike in international oil prices. portaldiarioderondonia.com · www.acessa.com · www.atibaia.com.br · es1.com.br · noticiabrasil.net.br · +16 more
- [● 9 SOURCES] R$ 375 million in extraordinary credit will be allocated to the National Program for Strengthening Family Agriculture (Pronaf). www.acessa.com · es1.com.br · paraonline.com.br · www.jornaloevangelho.com.br · jornalenoticias.com.br · +2 more
- [● 9 SOURCES] The government authorized extraordinary credits totaling R$ 6.98 billion for fuel subsidies and family farming. www.acessa.com · es1.com.br · paraonline.com.br · www.jornaloevangelho.com.br · jornalenoticias.com.br · +2 more
- [● 21 SOURCES] The government is reducing taxes on gasoline by R$ 0.63 per liter. portaldiarioderondonia.com · www.atibaia.com.br · noticiabrasil.net.br · www.diariodocentrodomundo.com.br · www.jornale.com.br · +11 more
- [● 21 SOURCES] Federal taxes on hydrated ethanol have been zeroed. www.diariodocentrodomundo.com.br · www.jornale.com.br · agoranointerior.com.br · portaldiarioderondonia.com · www.atibaia.com.br · +11 more
- [● 8 SOURCES] The new fuel subsidy and tax reduction package is estimated to cost R$ 7 billion per month. www.araucarianoar.com.br · esportenaredemt.com.br · imprensapublica.com.br · itapevinoticias.com.br · www.jcatibaia.com.br · +2 more