In Rio, Economy Minister Claims No Reason for Pessimism in Brazil

Guedes again advocated payroll tax relief, as high payroll taxes discourage investment and employment.

RIO DE JANEIRO, BRAZIL - Economy Minister Paulo Guedes said there is no reason for pessimism in Brazil. In his opinion, Brazil is going through a period of exceptional institutional development.

"I am seeing robust Brazilian institutions flourishing and improving. There is no reason for pessimism. Brazil is advancing institutionally," he said as he attended the opening BNDES (Brazil's Economic and Social Development Bank) meeting with the Social and Sanitation 'S', at the bank . . .

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