Macroeconomy/Finance

Income fell 31% in May, to $ 15.8 bn

Federal revenue fell 31.3% in real terms (IPCA) in May, compared to May 2019, according to a previous calculation by FGV. The official data for the collection of May will be released by the government after the 20th. FGV calculations indicate that the federal collection was R$ 79.3 billion ($ 15.8 bn) in May. Year-to-date, revenues are R$ 579 billion ($ 116 bn), a real drop of 11.6% compared to the first five months of 2019.

Source: Valor Investe