September 11, 2012 / 2:35 PM / 5 years ago

Brazil cuts electricity taxes to bolster economy

BRASILIA, Sept 11 (Reuters) - Brazil unveiled plans on Tuesday to cut electricity taxes in a bid to lower energy costs for industries and residential consumers, the latest attempt by President Dilma Rousseff to re-energize her country’s once-booming emerging economy.

Energy Minister Edison Lobão said the tax cuts for electricity producers and distributors will lower power costs by between 16 and 28 percent, depending on the consumer.

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