Oil and refining have leveraged union revenue

Faced with the "wave" of low in the economy and growing in spending, the union has counted on the oil royalties to strengthen the cashier. With the extraordinary revenues responding for almost half of the real growth (above inflation) in 2018, the commercialization of crude oil and its derivatives has leveraged government fundraisers.

The increase in the rates of the Social integration Programme (PIS) and the contribution to the financing of Social Security (cofins) on fuels, helped the Union to obtain reinforcement in the accounts. From January to June, the increase in taxes yielded R $8.12 billion more to the Federal government. The international economy also gave support.

The high price of the barrel, which reached US $80 in mid-May, increased the payment of royalties to the Union at R $6.639 billion in the first semester compared to the first six months of last year. If the quotation is maintained at the current levels, the royalties must yield R $7.36 billion additional in the second half, according to the most recent estimates of the ministries of the farm and the planning.

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