Brazil: Measure to reduce fuel will cost up to US$10 billion, says Guedes
RIO DE JANEIRO, BRAZIL – On Monday, June 6, the Brazilian Economy Minister, Paulo Guedes, told journalists the federal government’s measure to reduce the value of fuel would cost from R$25 billion to R$50 billion (US$10 billion).
“The commitment to fiscal responsibility still stands,” Guedes said.
According to the minister, the proposal already has a defined value and date, but the text has not yet been presented.
On Monday, President Jair Bolsonaro (Liberal Party – PL) announced a PEC (Proposal of Amendment to the Constitution) to contain fuel prices.
One of the ideas of the economic team is to use the money from the Eletrobras concession, of approximately R$25 billion, to contain product prices.
Bolsonaro met with the presidents of the Federal Senate, Rodrigo Pacheco (PSD-MG), and the House of Representatives, Arthur Lira (PP-AL), to discuss the measures.
Besides these, also present were:
- Senator Fernando Bezerra (MDB-PE)
- Chief Minister of the Civil House, Ciro Nogueira
- Chief Minister of the Secretary of Government, Célio Faria
- Minister of Justice and Public Safety, Anderson Torres
- Minister of Mines and Energy, Adolfo Sachsida
- Minister of the Cabinet of Institutional Security, Augusto Heleno
- Assistant to the Solicitor General of the Union, Fabrício Da Soller
More: Brazil news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief