The government of President José Mujica is taking urgent action to prevent inflation bursting through the psychological barrier of 10% and picking up uncontrollable momentum thereafter. The economy and finance minister, Mario Bergara, appeared before the senate finance commission to discuss the matter on 6 March after 12-month inflation in February hit 9.82%. After a subsequent meeting with the umbrella trade union Plenario Intersindical de Trabajadores-Convención Nacional de Trabajadores (Pit-Cnt), Bergara announced a series of reductions in value-added tax (VAT) designed to contain inflation.End of preview - This article contains approximately 828 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options