March 9, 2020 / 5:56 PM / a month ago

Brazil taking no emergency steps due to oil price drop -minister

MIAMI, March 9 (Reuters) - Brazil Mines and Energy Minister Bento Albuquerque said on Monday that the Brazilian government is not considering, for now, raising the fuels tax CIDE to make up for lost revenue as a result of falling oil prices.

Accompanying a visit by President Jair Bolsonaro to Florida, Albuquerque told reporters the government has looked at tools it can resort to in case of future abrupt changes, including the CIDE tax. But he added: “For now, the government will take no emergency measures.” (Reporting by Lisandra Paraguassu)

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