Brazil Tax Collection Loses Steam in Hurdle to Reaching Key Budget Target.

Brazil's tax collection has slowed down, posing a challenge for the government's budget target. In March 2024, tax revenues reached nearly 191 billion reais, growing by 7.22% compared to the previous year. However, this growth rate is lower than the 12.3% seen in February. Additionally, a significant portion of the income received between January and March was from one-time payments. Investors are looking for signs that President Luiz Inacio Lula da Silva will control spending and reduce deficits, but the government is now seeking more spending and plans to weaken a key fiscal target for 2025. [Extracted from the article]

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