Brazil’s economy slowing down
Experts say huge business taxes have reduced growth in what has become Latin America’s most expensive country.
Published On 23 May 2012
Brazil, which had appeared to be immune to the global financial crisis with a booming economy, is starting to suffer from an economic downturn.
Economists say widespread bureaucracy and massive taxes, which make it difficult to start and maintain a business, have slowed down growth in what has become the most expensive country in Latin America.
A study by the World Bank released this year revealed that the tax structure in Brazil is one of the most complicated in the world.
Al Jazeera’s Gabriel Elizondo reports from Sao Paulo.
Source: Al Jazeera