Wednesday, September 12, 2012 12:15:18 PM
Published September 11, 2012
EFE
President Dilma Rousseff on Tuesday made official a reduction in electricity rates aimed at spurring economic growth and making Brazilian firms more competitive.
The reductions, 16.2 percent for households and 28 percent for businesses, will enter into force starting in January.
"We're taking timely and urgent measures that the crisis is imposing ... At the same time, we're promoting structural changes to support the Brazilian economy," Rousseff said.
"Cheaper energy means lower production costs, but it also means more resources to invest (and) to generate more and more jobs," with the resulting impact on the fight against poverty, she said.
Rousseff also said that this measure "will improve the country's participation in the international competition for markets," which will provide Brazil with "greater strength to confront the world crisis."
The president included this new measure in the initiatives adopted by her government to give a greater push to the economy, the growth of which this year has slowed and, according to calculations by private sector analysts, will only expand by about 1.65 percent in 2012.
Among those measures, she cited the process of reducing interest rates and other incentives, such as big tax breaks for different productive sectors.
The new measures and the $65 billion infrastructure plan announced last month will allow the country "to guarantee the continuity of the growth process with social inclusion," Rousseff said.
The announcement was made at an event at the presidential palace attended by almost all members of the Cabinet along with several state governors, dozens of lawmakers, businessmen and union officials. EFE
Recent CIG News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/18/2024 06:29:41 PM
- CEMIG Files 2023 Form 20-F • PR Newswire (US) • 05/01/2024 12:02:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/10/2024 06:24:59 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/01/2023 05:58:42 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM