Lula extends fuel tax break

Mon, Nov 9Public accounts

What happenedLula's government will extend the tax break on gasoline and ethanol by 30 days, as well as the additional subsidy for ethanol producers.
WhyThe extension is intended to support the fuel industry, but the headlines do not specify the reason for the extension.
Market impactA weaker real could make imports and dollar debt costlier, but the headlines do not mention the impact on the currency or the stock market.
What to watchInvestors will be watching the impact of the tax break extension on the fuel industry and the overall economy.

Ibovespa that day +2.22%Source: Folha de S.Paulo + 3 more outlets

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