BRASILIA, 2 Feb. (Reuters) - The president of Brazil, Dilma Rousseff, said Wednesday in Congress that Brazil needs a major overhaul of the complex tax system to ensure sustainable economic growth. The president explained that as part of a broader effort by his government to help offset the rising cost of doing business in Brazil.
Rousseff gave no details of the proposal, but during his campaign last year, said it was essential to harmonize tax rates among states. In his first speech before Congress since assuming the presidency on 1 January, the president also promised strict fiscal discipline to control inflation.
"The continuation of macroeconomic policy with fiscal balance, firm measures to control inflation and rigor in the use of tax dollars will be one of the pillars of this government," said Rousseff. His comments coincide with growing investor concern about the increasing inflationary pressures and rising expectations of the planned budget cuts and will be announced next week. 
Rousseff gave no details of the proposal, but during his campaign last year, said it was essential to harmonize tax rates among states. In his first speech before Congress since assuming the presidency on 1 January, the president also promised strict fiscal discipline to control inflation.
"The continuation of macroeconomic policy with fiscal balance, firm measures to control inflation and rigor in the use of tax dollars will be one of the pillars of this government," said Rousseff. His comments coincide with growing investor concern about the increasing inflationary pressures and rising expectations of the planned budget cuts and will be announced next week.
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