NewzOn Friday in Rio de Janeiro, Brazilian President Luiz Inácio Lula da Silva’s government announced new fuel tax cuts and the extension of existing subsidies designed to lower fuel prices. The policy changes were implemented just over two weeks before a closely contested presidential runoff.
The timing of the announcement places the economic measure immediately ahead of the upcoming electoral showdown, in which President Lula faces Flávio Bolsonaro in the runoff vote.
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