The forecasted tax expenditure on all fossil fuels for residential use in Brazil shows a consistent decrease from 2024 to 2028. In 2024, the expenditure is projected at $29.02 million, decreasing year-on-year to reach $25.14 million by 2028. From 2023 to 2024, considering the previous actual data has not been provided, we can anticipate a decline based on the continuing downward trajectory. The average annual decrease over this period (CAGR) is anticipated to be approximately 3.66%.
Looking ahead, key trends to monitor include Brazil's enhanced adoption of renewable energy sources, which may further lower fossil fuel tax expenditures. Additionally, government policies and global economic factors could influence future tax expenditures on fossil fuels.
