Brazilian government to cut high business costs
The Brazilian government is planning to nurture the country’s economic recovery by cutting the high costs for businesses.
Finance minister Guido Mantega unveiled the latest scheme in a bid to make the country more competitive in international trade and to stimulate investment in areas such as Brazilian real estate.
He said: "Although Brazil is braving the crisis with efficiency, there are still many problems to be solved. We have to make an effort to reduce costs."
The finance minister added that the government is planning to spend 1.2 per cent of the gross domestic product on fiscal measures such as construction, automobiles, home appliances and Brazilian real estate this year, in order to help increase business activity.
Brazil emerged from a six month recession in the second quarter of this year, mainly thanks to a number of initiatives from the government to stimulate the economy, such as tax breaks and reductions.
