Brazil Tax Collection Up 9 Percent in First Half of 2024

Brazil's public-sector earnings also jumped 11 percent to reach a record high in June of 208.8 billion reals (37.04 billion dollars), said the report.

The rise in revenue collection confirms that Latin America's largest economy is performing well.

Several factors contributed to the increase in collection, including positive macroeconomic variables and resuming a tax on fuel, said the agency.

At the same time, massive flooding since late April in the southern Brazilian state of Rio Grande do Sul had a dampening effect on revenue collection, it said.

Brazil has set several consecutive records in tax collection this year, according to records kept since 1995.

The increase comes as the government attempts to meet its goal of eliminating the fiscal deficit in 2024.

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