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The Ministry of Finance was created in 1808 with the title Secretaria de Estado dos Negócios do Brasil e da Fazenda. The ministry is responsible for formulating and implementing the country's economic, fiscal and financial policy under the President's supervision. As of January 1, 2023, Fernando Haddad is the Minister of Finance. In its administrative structure it takes care of the formulation and execution of national economic policy, the Union 's finance administration, through its National Treasury Secretariat, and the superior administration of the federal tax structure, through its Secretaria da Receita Federal. Its highest authority is the Minister of Finance.