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21 de maio de 2012Mantega admits GDP growth will be less than expected
23 de maio de 2012Yesterday, the minister of Finance, Guido Mantega, announced a series of measures to boost sales in the auto industry. Taxes, such as the IPI, on manufactured goods, and the IOF, on financial transactions, will be reduced. The reductions will remain in effect until August, resulting in a total revenue loss of R$1.9 billion for the government (R$1 billion from lower IPI and R$900 million from the IOF during that period – with the IOF reduction to be extended for an indefinite period).
According to Mantega, the industry will offer counterpart reductions in prices. The automakers have also promised not to lay off workers.
