Brazil - Brazzil Mag - Brazil Fights Crisis with US$ 3.6 Bi in Tax Cuts
Advertisement
  Home Saturday, 28 November 2009 
Main Menu
Home
News
Back Issues
Advertising
Contact Us
Brazil Forum
Magazine
Brazzil Classic
Yellow Pages
Classifieds
Images
BrazzilMag Newsfeed
Custom Search
Amazon Body Care

BetterTrades is here to provide the best stock market education and coaches. Freddie Rick is here to teach you about trading and investment .
--------------

-------------
Brazil /Organic personal skin care wholesale / Brazil
--------------
Using your phone overseas
Who's Online
We have 139 guests online
Latest News
Statistics
Members: 494
News: 11482
Web Links: 0
User Menu
Your Details
Submit News
Check-In My Items
My Comments
Login Form





Lost Password?
No account yet? Register
Most Read
Related Items
Contribution
Have you got news?

Do you have news, comment or story on Brazil you want to share with Brazzil? Just send it our way to brazzil@brazzil.com.

 
The Latest from Brazzil Magazine
Home
Brazil Fights Crisis with US$ 3.6 Bi in Tax Cuts PDF Print E-mail
Written by Newsroom   
Friday, 12 December 2008

Brazilian withdraws from ATM In order to prop the slowing Brazilian economy and meet a 4% growth target in 2009, Brazil's government will cut taxes by 8.4 billion reais (approximately US$ 3.6 billion), Finance Minister Guido Mantega and Central Bank president Henrique Meirelles announced Thursday, December 11, in Brazilian capital Brasília.

The stimulus plan will also allow the Central bank to use international reserves to help Brazilian corporations access to credit thus easing pressure on the weakening local currency.

The tax cuts on personal income, consumer loans and automobiles will help sustain economic growth as demand for commodity exports dries up, Mantega said.

"If companies have the courage to keep investments and avoid layoffs, we'll be able to meet our growth target," Mantega told reporters in Brasilia.

Brazil's economic expansion may slow by more than half next year to the lowest level since 2003 as the first crisis since World War II to affect the US, Europe, Japan and China at the same time looms over Latin America's biggest economy.

Analysts expect Brazil's economic growth to fall to 2.5% in 2009 from 5.2% this year, according to a Central bank survey published earlier this week.

Demand for loans made through the banking system may total US$ 10 billion and be limited to 125% of the amount of debt maturing through the end of 2009, Central Bank President Henrique Meirelles said.

"The measure takes pressure from the credit market in real and increases the availability of US dollars in the Brazilian currency market" Meirelles said at the press conference with Mantega.

The Real jumped 3.4% on Thursday, the most in two weeks, to 2.3659 per US dollar. The Brazilian currency since September has lost 32% of its value against the greenback.

Mercopress

Hits: 2110
Comments (6)Add Comment
Cut taxes?
written by falupa, December 12, 2008
By cutting taxes, I think that Brazil is going to boost the buying power of consumers, but they will have to make up for it elsewhere. I think they should raise taxes on oil. This is because the economy is fighting a deeper recession than most have planned on and foreign exports would be the most viable solution to get more money.
report abuse
vote down
vote up
Votes: +0
By cutting taxes, I think that Brazil is going to boost the buying power of consumers,
written by ch.c., December 13, 2008
Ohhhhh yesssssss !
What about your mortgage rates at 13-15 %, your car rates at 35 %, you consumer goods at 55 %, and your overdrafts at 200 % ?????
US$ 3,6 billion represents not even US$ 20.- yearly...per Brazilian Capita !!!!! Or around US$ 1,50 per month...per capita....TAX CUT !!!

I let you appreciate the size of it.
Enjoy your tax cut ! You will barely buy a few more bones...with very little meat ! The real meat will stay at the administrations levels ! And with LULA guarantees !
report abuse
vote down
vote up
Votes: +0
How about 3.6 Bil for public security in Rio
written by jon, December 13, 2008
Where is the administrations's focus on the thousands ( up to 16,000 now) of people killed in Rio in two years
report abuse
vote down
vote up
Votes: +0
...
written by João da Silva, December 13, 2008
How about 3.6 Bil for public security in Rio


For a guy who is about to be sent to a Gulag for his Un Canadian activities, he still has some steam left to interfere in the domestic affairs of Brasil. Since he insists, let me answer his questions:

1) The 16,000 are classified as "Collateral Damages". Period
2) 3.6 Bil is to be financed by the Bank of Canada.

If the distinguished commentator is unhappy with my explanations, I suggest he surrenders at the nearest Swiss Diplomatic Mission. He will be treated prim and proper according to Geneva Conventions . His imprisonment in Geneva will not be very pleasant for he will be indoctrinated into Geo Political Economics, by the Camp Kommandant who will conduct a test. If the Junkie passes the test, he will be presented with a pack of detergent. If not, with a 6 roll pack of toilet tissues.

The choice is yours ,sir. smilies/cheesy.gif
report abuse
vote down
vote up
Votes: +0
...
written by jon, December 13, 2008
No thanks Joao, I still have flashbacks of my "reeducation" stint in Paraquay under Stoessner in the '80's!!
report abuse
vote down
vote up
Votes: +1
Jon
written by João da Silva, December 14, 2008
I still have flashbacks of my "reeducation" stint in Paraquay under Stoessner in the '80's!!


I am sorry to hear about it, Jon. But you are entitled to sue the Republic of Paraguay for the "Trauma" Stroessner caused you . smilies/grin.gif
report abuse
vote down
vote up
Votes: +0

Write comment
quote
bold
italicize
underline
strike
url
image
quote
quote
smile
wink
laugh
grin
angry
sad
shocked
cool
tongue
kiss
cry
smaller | bigger

security code
Write the displayed characters


busy




Reddit!Del.icio.us!Facebook!Slashdot!Netscape!Technorati!StumbleUpon!Newsvine!Furl!Yahoo!Ma.gnolia!Add this social bookmarking functionality to your website! title=
 
< Prev   Next >
Brazzil Magazine on Twitter


Visit Brazzil Social with Video, Music and Chat


Home
Brazzil Magazine - Since 1989 trying to understand Brazil
  • Poor Women from Northeast Brazil Learn Joy of Meeting and Helping Each Other


    Joined hands The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area.

  • Ahmadinejad's Visit: Iran, Honduras and Brazil's Hypocrisy in Dealing With Them


    Ahmadinejad and Lula The Brazilian diplo-MÁ-cia (bad diplomacy) carries on its accelerated course towards the non-acknowledgment of human rights, although sometimes it takes pleasure in saying that it does precisely the opposite. The visit of Iran's president, Mahmoud Ahmadinejad, is another example of a diplomatic omission that verges on hypocrisy.

  • Lula Is About to Fulfill His Wish of Getting His Good Friend Chavez in Mercosur


    Lula and Chavez On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil.

  • Denying Education is the Other AIDS. And Brazil Is Guilty of Inflicting It


    Children from a Diadema band Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms.

  • Child Labor Went Down in Brazil, But 5 Million Underage Workers Are Still Way Too Many


    Child labor in Brazil One hundred and eleven years after Brazil abolished slavery, the number of workers deprived of their freedom is still huge. They raise cattle, produce charcoal, sugar cane or timber. Some of them, most undocumented Bolivians, work in basements of small apparel factories in São Paulo and other metropolis.

  • Some Humility Would Do Lula Good. On Human Rights Brazil Has Long Way to Go


    A prison in Rio de Janeiro, Brazil On November 7, 2009 a few friends and I had an opportunity to take a look inside a Brazilian jail outside the city of Rio de Janeiro. We were able to take some amateur footage of our experience on video (see link below). It's no surprise, of course, that the typical Brazilian jail lacks some of the functionality of those in North America or Europe, but our experience that day was quite shocking.

  • Brazil's Amazon Rainforest Policy Is a One-Way Road to Disaster


    Trasamazonian road in BrazilDepletion of the Amazon Rainforest is not a new concern facing environmentalists, biologists, ecologists, and a growing number of the Amazonian indigenous peoples. For decades they have feared for the fate of the world's most biologically diverse and species-rich hothouse.

  • Geisy, Brazil's Miniskirt Student, Should Try US College Next Year


    Geisy Arruda from BrazilGeisy Arruda made history this week in Brazil, but for all the wrong reasons. What began as a poorly planned fashion statement has become a worldwide tale. Geisy decided to wear a pink mini-dress to her private college in São Paulo state, and after that, all hell broke loose.

  • Vigilante Groups in Brazil Trump Drug Gangs and Become Rio's New Authority


    Brazilian favela in Rio The push of vigilante groups in Rio de Janeiro's favelas (shantytowns) in the last three years is the most important and alarming information of the just-released study by the Rio de Janeiro University's Violence Research Center (Nupev-Uerj).

  • Brazil Police Use Press Coverage as Green Light to Kill and Invade Houses in Rio


    Rio police in a favela A dispute over drug trafficking territory in Rio de Janeiro has intensified lately, leaving in its wake unprecedented acts of violence, such as the downing of a police helicopter in the northern zone of the city on October 17.  Three policemen died and another two were injured.  This event has drawn the attention of the international media, who are raising the issue of public security for the 2016 Olympics to be held in Rio.