Extension of tax cut on cars "probably last one"-Brazil's Mantega

BRASILIA Wed Oct 24, 2012 2:10pm EDT

BRASILIA Oct 24 (Reuters) - The extension of the IPI tax break for automakers through the end of the year by the Brazilian government was probably the last one, Finance Minister Guido Mantega said on Wednesday.

Mantega added the government expects the two-month extension to increase investments in Latin America's largest economy. The auto industry makes up more than a fifth of Brazil's industrial output and 5 percent of its gross domestic product.

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