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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Brazil appeals to sovereign fund and state companies’ profits to meet 2012 fiscal target

Posted on 07 January 2013

The Treasury will withdraw 8.85 billion Reais (4.3 billion dollars) from its sovereign wealth fund and 4.7 billion Reais in dividends from state-owned bank Caixa Economica Federal, according to a Dec. 31 decision published in the official gazette.
President Dilma Rousseff administration last year cut taxes and stepped up public works spending as it struggled to revive an economy that the central bank estimates expanded by 1%. Tax breaks reduced federal revenue by 45 billion Reais last year, according to Finance Minister Guido Mantega………………………………………..Full Article: Source


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