Brasília - President Luiz Inácio Lula da Silva, declared during his fortnightly radio broadcast, Breakfast with the President, that the measures announced last Friday will help the business community to make investments, buy equipment and hire more workers. "Produce more, earn more, generate more jobs and more riches," was the way Lula summed it up.

Last Friday the Brazilian government announced a special tax regime to stimulate investments in ports, a reduction of taxes on manufactured goods (IPI) for industrial uses, modifications in income taxes on investments, tax exemptions for the real estate sector, and a reduction in taxes (IOF) on life insurance.

President Lula revealed that the measures were implanted in response to calls from the productive sector. The objective, he said, was to make investing easier while creating jobs.

Agência Brasil
Reporter: Luciana Vasconcelos
Translator:Allen Bennett
08/10/2004