The Minister of Planning and Budget, Bruno Moretti, stated this Tuesday (30) that the drop observed in the price of Brent oil does not affect the government from the point of view of revenue frustration.
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The price of Brent – used as a reference in most of the world – was trading at around US$72 before conflicts began in the Middle East at the end of February. At peak times, the value has exceeded US$100 in recent months.
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According to Moretti, the government made “contained” and “moderate” projections of the appropriation of the , meaning that the government will not have major bumps in the projection of this revenue for the next bimonthly report of primary income and expenses.
“The reduction in Brent does not affect us from the point of view of revenue frustration, because we had already made careful projections, for a shorter period, of tax revenue also for a very short period”, explained the minister.
The minister answered questions from journalists on the topic, which was generated because in the last bimonthly assessment report, the government had partially incorporated possible revenue gains due to .
If the government observes a frustration in this revenue projection, it must activate the budget contingency mechanism, to balance revenues and expenses and meet the fiscal target.
