May 12 (Bloomberg) -- Brazilian President Luiz Inacio Lula da Silva will cut taxes for 25 favored industries and offer companies in those sectors billions of dollars in government loans to help spur exports hurt by the appreciating currency.
Unveiling a new industrial policy today in Brasilia, Lula said the government will use windfalls from biofuels and food to cut Brazil's dependence on commodity exports for foreign exchange.
The plan will boost investment to 21 percent of gross domestic product by 2010 from about 17.6 percent last year by ending various taxes and cutting red-tape for smaller companies.
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Tuesday, May 13, 2008
Lula Vows Tax Cuts, Loans in Export Stimulus Plan
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