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Tax Collection Figures, IPCA Inflation Due Tuesday

BRAZIL
  • Tax collections are expected to reach 212.3b reais in October, according to the Bloomberg median estimate, against a prior reading of 174.3b reais in September. Data is due at 1330GMT/0830ET and a press conference will be held thirty minutes later.
  • Congress sets deadline for Lula to deliver fiscal target without cutting amendments in election year. Parliamentarians want the executive to prove that it has the cash in hand and have established March 2024 as a deadline for accountability with the legislature. (Estadão)
  • Key data this week will be mid-month IPCA inflation data where the headline rate is expected to come in at 4.82% Y/y. Petrobras holds a webcast later today on its investment plan in Portuguese and English, 6:30pm Brasilia time. This comes following the state-controlled oil giant announcing a 31% increase to its five-year investment plan in a major shift away from the cost-control strategy that had prevailed under previous management.
  • Americanas: A binding agreement to support judicial reorganization plan was signed with creditors holding more than 35% of company’s debt, excluding intercompany credits – the company says in a filing.

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