Economy Minister Says Brazil Could Cut Fuel Taxes, Still Hit Budget Deficit Goals

Economy Minister Paulo Guedes said the government is considering reducing levies on fuel and the electricity sector.

RIO DE JANEIRO, BRAZIL -  Brazil may use any increase in federal tax revenues generated by a rebounding economy this year to pay for tax cuts, especially on fuel, rather than targeting it solely to reduce the budget deficit, Economy Minister Paulo Guedes said on Friday.

Speaking in a news conference alongside President Jair Bolsonaro, Guedes said such a move would still be consistent with the government’s commitment to getting public finances back on track after the deficit and debt blew out to record highs last year.

Guedes said the government is considering reducing levies on fuel and the electricity . . .

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