Rio - The principal objective of the tax-reduction measures announced on Friday is to strengthen sustained growth ad open the way to more investments, reports Bernard Appy, the executive secretary at the Ministry of Finance.

"These are measures to stimulate investments," declared Appy, adding that the package of measures also deals with possible problems in the export sector by channeling resources to port infrastructure, for example.

Appy also explained that the measures will stimulate long-term domestic savings which are essential for growth. The government is demonstrating its commitment to economic growth by reducing the tax burden to 2002 levels, said Appy.

Agência Brasil
Reporter: Alana Gandra
Translator: Allen Bennett
08//09/2004