Brazil Auto Program to Spur Investment, Mantega Says

(Corrects to say $22 billion investment in three years.)

The automotive regime announced by Brazil’s government today will stimulate investment, innovation, and job creation in the industry, Finance Minister Guido Mantega said.

The measures will also bring benefits to consumers, Mantega said to reporters in Brasilia. The industry will receive $22 billion in investment over the next three years, he added.

To contact the reporter on this story: Arnaldo Galvao in Brasilia at agalvao1@bloomberg.net

To contact the editor responsible for this story: Harry Maurer at hmaurer@bloomberg.net

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