Brazil’s federal government saw a significant increase in revenue in July 2024, reaching R$ 231 billion ($42 billion), marking a 9.55% growth from the previous year. Total revenue from January to July 2024 also rose by 9.15% compared to 2023, amounting to R$ 1.53 trillion ($278 billion).
The surge in revenue was fueled by various factors, including the reintroduction of fuel taxes, new levies on investment funds, and declaring foreign assets. Additionally, post-disaster recovery efforts in Rio Grande do Sul played a crucial role in boosting revenue.
Notably, social security funds saw a 6.04% increase, largely influenced by a rise in national wage totals. The government’s active measures in refining tax collections also contributed to the overall growth in revenue.
This increase in federal revenue is vital for funding public services, infrastructure, and social programs, essential for Brazil’s progress. It also indicates a resilient and promising future for Brazil’s economy.
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