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.
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