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Revenues to reach all-time highs, Guedes says

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Vincent

After the federal collection reached an all-time high in the first half, Economy Minister Paulo Guedes said that the "historical levels" of revenues will be exceeded this year. Mr. Guedes reinforced that part of the increase in revenues will be transformed into tax reduction and asked the Secretariat of Federal Revenue to be moderated regarding the tax overhaul.On Thursday, the government discloses the bimonthly report of revenues and expenses, which, in addition to capturing the significant increases in revenues, will also show a drop in spending that will make it possible to unlock R$4.5 billion in this year’s budget. In the report released in May, the projection for spending this year exceeded the spending cap by this amount.Thus, although President Jair Bolsonaro said on Wednesday that revenue went up "frighteningly," allowing the unlocking of the money, revenues were not what paved the way for more spending. "I’m even positively worried, revenues went up frighteningly. We decided to unlock all the resources provided for in the budget of the ministries," he said in an interview broadcast on his social media channels.In June, revenues had a real increase of 46.8% compared to the same month of 2020, and reached R$137.2 billion, the highest for the month since 2011. In the semester, revenues reached the highest level of the historical series, of R$882 billion (without adjustment), a real...

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