Brazilian participation in COP26, President of the Republic in Italy and inflation projection for 2021 are among the highlights of the 5 Facts Afternoon this Monday, November 1, 2021.
Brazil’s goals at COP26
Environment Minister Joaquim Leite announced today, at COP26, that Brazil’s goal is to reduce greenhouse gas emissions by 50% by 2030 and neutralize carbon emissions by 2050. Today is the first day of speeches of the heads of state and representatives of nations from around the world, at the Summit of Leaders of the UN Climate Conference.
Bolsonaro in Italy
President Jair Bolsonaro is in Italy to receive a tribute. To journalists, he said that Petrobras intends to announce a new readjustment in fuel prices in the next 20 days. He also said that the government is studying the possibility of using dividends from the state-owned company to reduce the price of diesel. Later, the state-owned company released a statement stating that it does not anticipate decisions on adjustments.
Political agenda
In Brazil, despite the All Souls’ holiday, the week in national politics has important issues to be debated. In the Senate, the discussion is on the income tax reform bill. In the Chamber of Deputies, the expectation is the vote of the PEC dos Precatórios. The proposal is seen as a key to leveraging the R$400 Brazilian aid.
Inflation Projection
The market forecasts 9.17% inflation in 2021. It was the 30th consecutive high for this year’s estimate of the Extended Consumer Price Index (IPCA), but it is the first time that the level exceeds 9%. The Selic rate is expected to be in double digits for the first time in 2022. The data are from the Central Bank’s Focus Bulletin released today.
water crisis
The water crisis continues and the Southeast-Midwest reservoirs ended the month of October with a level below 18%. But, with above-average rains, forecast for November, the national system operator predicts that the supply of hydroelectric plants may rise again.
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Reference: CNN Brasil
