brazil latest news

Economic Updates

Tax Reform Proposal: The Brazilian government is backing a bill that aims to decrease federal tax breaks by 10% over a period of two years, with the goal of stabilizing public finances. This initiative is viewed as a substitute for raising the tax on financial transactions (IOF).

Jet Fuel Price Cut: The state-owned oil company Petrobras has declared a 7.9% reduction in the average prices of jet fuel for distributors, which will take effect on June 1.

Corn Harvest Impact: Brazil's second corn crop is anticipated to rise by 11% compared to last year, which could influence U.S. corn export opportunities due to a surge in global supply.