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Brazil economy showing signs of quick rebound - privatisation secretary

Reuters
Brazil's Privatisation Secretary Salim Mattar attends the ceremony of the secondary share offering and privatisation of Petrobras Distribuidora, at Brazil's B3 Stock Exchange in Sao Paulo

BRASILIA (Reuters) - Brazil's economy is showing signs it will rebound quickly from the coronavirus crisis shock, Privatization Secretary Salim Mattar said on Monday, adding that there will be no tax increases to help plug the yawning budget deficit.

Instead, lowering the country's tax burden, and cutting taxes and export tariffs, is vital to improving Brazil's competitiveness and growth prospects, Mattar said in a live event hosted by Banco do Nordeste.

(Reporting by Marcela Ayres; Writing by Jamie McGeever, Editing by Franklin Paul)