Brasília – The economy’s poor performance is responsible for federal revenues registering the lowest level in seven years in July. According to data released by the Federal Revenue Service this Friday (25), revenues totaled BRL 109.948 billion (USD 35.15 billion) last month, down 0.34% over July 2016, with the result already adjusted for inflation. This is the lowest level for the month since 2010.
In the year’s first seven months, federal revenues are at BRL 758.533 billion (USD 242.50 billion). The amount is 0.61% higher than in the same period of 2016, already adjusted for inflation. This growth, however, comes solely from non-managed revenues (especially oil royalties), which went up 49.9% in real terms from January to July over the same months of 2016.
Regarding only the revenues managed by the Federal Revenue Services (such as taxes and contributions), federal revenues would have had a real decline – inflation adjusted – of 1.7% in July and of 0.41% in the year’s first seven months.
*Translated by Sérgio Kakitani
