Brazil May Cut Taxes More to Boost Growth, Mantega Tells Globo

Brazil may make further cuts to payroll taxes and the financial-operations tax on consumer loans to boost economic growth next year, Finance Minister Guido Mantega told O Globo in an interview.

Latin America’s largest economy needs to keep cutting taxes to improve its competitiveness, the minister said, according to O Globo.

Brazil cut the so-called IOF tax on consumer loans to 2.5 percent from 3 percent on Dec. 1.

To contact the reporter on this story: Fabiola Moura in New York at fdemoura@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net