Brazil spending freeze key to stimulus-official

Mon Apr 7, 2008 11:40pm BST
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MIAMI, April 7 (Reuters) - Brazil's decision to freeze 19.4 billion reais ($11.4 billion) in spending from this year's budget will allow the government to adopt "stronger" measures to stimulate its industry, the country's planning minister said on Monday.

Paulo Bernardo told reporters in Miami, where he is attending the Inter-American Development Bank's annual meeting, that the reduction in spending will "for sure" pave the way for a stronger industrial policy, which is expected to include tax breaks.

"How strong it will be, we will see in the next few days," he said.

 
 
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