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News & Events
News
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26-Oct-2011
Approval of the federal government’s proposals to simplify the tax system would also strengthen investment incentives.
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26-Oct-2011
The Brazilian government should follow through with a proposed reform package to unify states’ rate of VAT. Further improvements could be achieved by combining existing VATs with municipal taxes on selected services, the tax on industrial products and various federal contributions into a single value added tax
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26-Oct-2011
Education will help to build on recent successes in poverty reduction. Access to education has improved markedly in recent decades, and, as a result the traditionally very high wage premiums for education have come down. Future challenges in the area of education include the need to improve the quality of instruction and to reduce the high drop out rates in secondary education.
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26-Oct-2011
In Brazil, barriers to international trade are mainly related to comparatively high levels of tariff protection. In addition, high costs and time requirements for container handling and customs clearing also act as obstacles to foreign imports. A new industrial policy plan launched in August 2011 (called Plano Brasil Maior, “Greater Brazil Plan”) contains a range of measures aimed at protecting the domestic market.
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26-Oct-2011
Even though there has been some improvement of late, environmental licensing remains a significant source of investment delays, especially in the energy sector, because of the frequency of disputes around infrastructure projects.
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26-Oct-2011
For Brazil, returns to investment in infrastructure are likely to be substantial, especially if designed with environmental benefits in mind. The government is implementing a second large infrastructure programme, which has been rightly protected from fiscal cutbacks.
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26-Oct-2011
Brazil’s economic and social progress has been remarkable. A key macroeconomic challenge will be to damp inflation in a context of abundant global liquidity, and removing obstacles to investment will be crucial to sustaining strong economic growth. Faster infrastructure development would help to achieve better economic and social performance.
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14-Oct-2011
Good progress is being made to cut the fiscal deficit, but more needs to be done. The government should continue to fully comply with the conditions and targets of the EU-IMF programme in order to reduce the budget deficit to below 3% of GDP by 2015. Strengthening the fiscal framework, broadening the tax base and improving public sector spending efficiency will help to achieve this goal.
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14-Oct-2011
To increase value for money, the government should consider making service provision to or on behalf of government more contestable; facilitate the hiring of more specialists and enhance the fluid movement of employees both within and between the public and private sectors; improve performance monitoring and rationalise non-commercial state agencies.
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14-Oct-2011
Following comprehensive stress tests, the banking system has been recapitalized, but the banks still require liquidity support from the Eurosystem and deleveraging must continue. Financial supervision and oversight is being extensively overhauled. The household debt resolution framework needs upgrading and bank liability guarantee should be eventually narrowed. A revised set of indicators can help to prevent future crises.
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