Ministry of Finance (Brazil) facts for kids
| Portuguese: Ministério da Fazenda | |
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| Agency overview | |
|---|---|
| Formed | 11 March 1808 |
| Type | Ministry |
| Jurisdiction | Federal government of Brazil |
| Headquarters | Esplanada dos Ministérios, Bloco P Brasília, Federal District |
| Annual budget | $25.67 b BRL (2023) |
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The Ministry of Finance (Portuguese: Ministério da Fazenda) is a very important part of the Brazilian government. It helps manage the country's money and economy. This ministry was first created way back in 1808. Back then, it had a different name: Secretaria de Estado dos Negócios do Brasil e da Fazenda.
The main job of the Ministry of Finance is to create and carry out the country's plans for its economy. This includes how the government collects money (like taxes) and how it spends it. It also involves rules for banks and how money moves around. The President of Brazil oversees all these important tasks. As of January 1, 2023, Fernando Haddad is the Minister of Finance. He leads the ministry and makes many key decisions.
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What Does the Ministry of Finance Do?
The Ministry of Finance has several big responsibilities. These jobs help keep Brazil's economy strong and stable.
Managing the Country's Money
One of the main roles is to handle Brazil's finances. This means looking after the national budget. The budget is like a big plan that shows how much money the government expects to get and how it plans to spend it. The ministry works to make sure there's enough money for public services. These services include things like schools, hospitals, and roads.
Setting Economic Rules
The ministry also helps set the rules for the country's economy. This is called economic policy. It involves decisions that affect businesses and people. For example, it might decide how to encourage new jobs or how to control prices. The goal is to help the economy grow and make life better for everyone.
Handling Taxes and Spending
Another key job is managing fiscal policy. This is all about taxes and government spending. The Ministry of Finance decides how taxes are collected. It also helps decide where the government's money should go. This could be for new projects or to support different parts of society.
Overseeing Financial Systems
The ministry also looks after the country's financial system. This includes banks and other money-related businesses. It makes sure these systems are safe and work well. This helps people and businesses borrow money and save safely.
History of the Ministry
The Ministry of Finance has a long history. It was started in 1808, which makes it one of Brazil's oldest government offices. Over the years, it has changed names and roles. However, its main purpose has always been to manage Brazil's money. It has played a big part in shaping the country's economic journey.
See also
- List of ministers of finance of Brazil
