SAO PAULO — Helio Mattar, secretary of industrial policy of the Ministry of Development, says that if a recent tax abatement agreement on entry-level cars had not been signed, car prices would have increased 10% and there would be no job security for workers (see WAI Update — June '99, p.1). The automotive industry here, including the car-parts sector, employs approximately 540,000 people. Prices of entry-level cars, which now are responsible for 73% of all domestic sales in Brazil, will ...
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