The world’s largest currency traders are recommending their clients bet Brazilian Finance Minister Guido Mantega’s success in stemming gains in the real will be short-lived as foreign investment picks up.
Monday, May 23, 2011
Friday, May 13, 2011
Brazil Weighs Fuel Tax Cut to Slow Inflation, Augustin Says
Brazil is considering cuts to a fuel tax as inflation exceeds the government’s target range for the first time in six years, Treasury Secretary Arno Augustin said.
“The government has tools to control fuel prices and avoid a negative impact,” Augustin said in an interview today in Brasilia, citing a tax known in Brazil as Cide. “Whatever the international scenario we have ways to avoid damaging the Brazilian economy. We have Cide and we can use it.”
President Dilma Rousseff’s administration is weighing cutting taxes on electricity as well, a person familiar with the discussions said yesterday. The person declined to be identified because he isn’t authorized to speak publicly about the issue.
“The government has tools to control fuel prices and avoid a negative impact,” Augustin said in an interview today in Brasilia, citing a tax known in Brazil as Cide. “Whatever the international scenario we have ways to avoid damaging the Brazilian economy. We have Cide and we can use it.”
President Dilma Rousseff’s administration is weighing cutting taxes on electricity as well, a person familiar with the discussions said yesterday. The person declined to be identified because he isn’t authorized to speak publicly about the issue.
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