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Brazil needs electricity rate cuts to grow over 4 pct -Mantega
November 14, 2012 / 6:53 PM / 5 years ago

Brazil needs electricity rate cuts to grow over 4 pct -Mantega

BRASILIA, Nov 14 (Reuters) - Brazil needs to see a reduction in electricity rates in order to grow between 4 percent and 4.5 percent next year, Finance Minister Guido Mantega said on Wednesday.

Earlier on Wednesday Mantega was cited by a local paper as saying that the government would “somehow” push energy prices down if electricity companies refuse to lower rates in exchange for extending their concessions.

President Dilma Rousseff unveiled plans in September to lower some of the world’s highest energy bills by an average of 20 percent. The central bank says the lower electric rates would slow inflation by half a percentage point in 2013.

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