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Brazil’s Meirelles: Tax hikes still on the table for 2017

July 25, 2016 by

Tax hikes are still on the table for Brazilians in 2017 as the government grapples with stubborn deficits, Finance Minister Henrique Meirelles said Monday. “Timely tax hikes are a possibility,” he told a meeting of investors in Rio de Janeiro. “We are monitoring government revenues very closely and will make a final decision on the 2017 budget by the end of August.” Brazil’s public sector is projected to roll up an unprecedented primary budget deficit of R$170.5 billion this year. The government has pledged to reduce the deficit to R$143.1 billion in 2017. Public opinion has shown sharp rejection of the idea of new taxes in recent opinion polls.

Link to UOL news agency report

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