Brazil doubles tax on consumer credit to fight inflation

04/8/2011 | Bloomberg · MercoPress (Uruguay)

Brazil increased its tax on consumer credit from 1.5% to 3% to help control inflation. Finance Minister Guido Mantega said the tax might be rolled back if the expansion of consumer credit eases to 12% to 15% a year, from 21%. He said a rise in the value of Brazil's real is "unavoidable."

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Bloomberg · MercoPress (Uruguay)

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