Brazilian stocks fall after unveiling expenditure cuts By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 29 2024
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Should l Buy ?
Source: Investing.com
Market Reaction to Fiscal Package: Brazilian stocks and the real have experienced significant declines due to Finance Minister Fernando Haddad's fiscal package, which includes R$70 billion in expenditure cuts but is viewed as inadequate for stabilizing the country's growing debt.
Concerns Over Tax Exemption Impact: The introduction of an income tax exemption for individuals earning up to R$5,000 per month, expected to cost R$50 billion, raises concerns about the feasibility of offsetting this with higher taxes on high-income earners, further dampening market sentiment.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
