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Haddad Confirms End of Fuel Tax Exemptions

BRAZIL
  • Incoming Finance minister Fernando Haddad told journalists on Tuesday that the Minister of Economy, Paulo Guedes, agreed not to extend the exemption from federal taxes on fuel.
    • It is unclear how much this decision might impact fuel prices and inflation.
    • Haddad added that in the first days of January, we will present our plan to cover the fiscal gap that opened in 2022 in public accounts.
  • Separately, Senator Simone Tebet, a former presidential candidate who backed Luiz Inacio Lula da Silva in the October runoff vote, agreed to helm Brazil’s planning ministry, according to the president of her party.

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