In 2024, Brazil's total support for fossil fuel production, expressed as a percentage of GDP, is forecasted to decline significantly. The values project a clear downward trend from 2024 to 2028, starting at 0.059% of GDP and falling to just 0.001% by 2028. This represents a substantial annual decrease year-on-year, with the most significant drop occurring between 2027 and 2028 as the support approaches negligible levels.
Future trends to watch for include:
- Brazil's shifting policy towards renewable energy sources and how this affects fossil fuel support.
- The impact of global energy market developments on Brazil's energy subsidies and GDP.
- The role of international climate agreements in accelerating the reduction of fossil fuel support.
