Brazil announces measures to balance budget; it includes controversial tax on financial transactions

Tuesday, September 15th 2015 - 10:13 UTC

Full article 6 comments

Brazil's government announced on Monday spending cuts and tax increases totaling 65 billion Reais ($16.9 billion) as it races to close a budget deficit that led to a downgrade of the country's credit rating last week. Read full article

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Brasileiro
I agree to pay more taxes if it is to resolve the issue. But the government must spend better and more evenly, more effectively.

I also agree that once the tax issue is resolved Brazil does not provide more information to any rating agency. Brazil to refrain from having investment grade.
Sep 15th, 2015 - 10:33 am - Link - Report abuse 0
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Skip
Well you are getting your wish about not having an investment grade.

A government that doesn't release timely and accurate financial information is a scary concept.

How will you know how your taxes are being spent if they keep it secret?
Sep 15th, 2015 - 10:50 am - Link - Report abuse 0
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Eurgringo
This package will be watered down by Congress significantly. Reintroducing the financial transactions tax is a mistake and will reduce economic activity.

Better to save money by reducing public spending rather than imposing new damaging taxes. The government are all over the place and these announcements increasingly lack credibility.
Sep 15th, 2015 - 03:23 pm - Link - Report abuse 0
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ChrisR
@ 3 Eurgringo

You didn't expect 'sense' from DumbAss Dilma surely?

She who has always fucked with Mr. Market despite always getting it wrong and has no other answers to the problem such as committing suicide TGW The Chief Crook Lula?

Now that would be a step in the right direction to encourage investors.

Ha, ha, ha.
Sep 15th, 2015 - 06:16 pm - Link - Report abuse 0
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Brasileiro
In the first two weeks of this month there was a trade surplus of 1.5 billion dollars. And with strong high prospects.

Never before has Brazil got both trade surplus as this September.

http://www.brasil.gov.br/economia-e-emprego/2015/09/exportacao-de-manufaturados-puxa-superavit-da-balanca-comercial-para-us-8-7-bilhoes
Sep 15th, 2015 - 09:36 pm - Link - Report abuse 0
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Jack Bauer
@1 brASHOLE
“I agree to pay more taxes if it is to resolve the issue. But the government must spend better and more evenly, more effectively. ”

You agree ? even though you know that the deficit exists only because of mismanagement of public funds and corruption ? So you are OK with giving Dilma and the PT more money to steal ? Even if deep down you disagree with the increase in taxes, I know you will say you support it, out of ignorant loyalty to the thieves, and to not have to admit you are wrong. A true petista.

@5 brASSHOLE
Just fyg, this surplus of approx. US$ 1.5 billion does not “belong” to the Government, it is revenue received by manufacturers, in payment of their exports. You are aware of that, aren't you ?? Ah no ??? too bad.

And , something else for you to digest you dimwit... what contributed to the surplus, was the increased value of the USDollar. What I don't get, is that only yesterday you blew your mouth off, saying Brazilian exporters don't want USDollars, and yet today, you are all proud of the surplus...in USD......
Why are you so stupid ?
Sep 16th, 2015 - 10:22 pm - Link - Report abuse 0
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