The possibility of declaring a state of emergency to contain fuel prices is being discussed, the Senate approved a bill that allows the Aneel to lower electricity bills, and President Bolsonaro will travel to the U.S. next week

BRAZIL POLITICS - Report 03 Jun 2022 by Murillo de Aragão and Cristiano Noronha

President Jair Bolsonaro met with ministers to discuss a possible state of emergency to contain the increasing fuel prices in an election year. Some in the government defend the measure, but it has no support among the economic team. It is important to note that for a state of emergency to be declared, a draft legislative decree from the Executive Office must be submitted to Congress. The Senate approved a bill for the Brazilian Electricity Regulatory Agency (Aneel) to use the R$ 60 billion credit created from the double taxation of PIS Cofins and ICMS on energy in the last 15 years to counteract the price hikes. The bill will now be analyzed in the House. Next week, President Jair Bolsonaro will travel to the United States, where he will participate in the IX Summit of the Americas, in Los Angeles. It runs until Friday, June 10. A meeting between Bolsonaro and President Joe Biden is scheduled.

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