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Finance Minister Haddad Participates In CMN Meeting

  • Potential comments from Finance Minister Fernando Haddad as he attends a meeting at to launch the Selected Proposals for the 2023-2026 Cycle of Capital Market and Insurance Market Initiatives. Later on Thursday, he participates in the virtual meeting of the national monetary council. The treasury will auction fixed rate bonds maturing in 2024, 2025, 2027, 2029 and 2033; size of the offers and amount sold in each maturity are likely to be drivers to local rates.
  • On Wednesday, Petrobras announced they will reduce prices for the natural gas it sells to distributors by an average 7.1% starting August 1, a move it said comes in line with global oil prices and foreign exchange rates. Additionally, a decision on Petrobras’ stake at Braskem is far from being solved, CFO Sergio Caetano Leite told journalists.
  • Brazil’s mining industry warns that a much heavier tax burden from new state and municipal payments threatens to erode competitiveness and drive away investments.
    • “We’re under a tax attack,” Raul Jungmann, president of the Brazilian Mining Institute, told reporters Wednesday.

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