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

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