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Wednesday, June 25, 2008

Ecuador President for Food Tax Cut

Quito, Jun 20 (Prensa Latina) Ecuadorian president Rafael Correa presented to the Constitutent Assembly a proposal that would boost food production and combat the inflationary crisis.

After being received by the Assembly president, Correa spoke before Congress and requested a mandate to eliminate taxes on several agricultural products in an aim to reduce production costs.

His project was delivered to the Assembly leader Alberto Acosta, and includes reduction of taxes in the agricultural, poultry and livestock sectors.

It also requested freedom from taxation for two years for importers of agrochemical products and called for subsidies in the purchase of fertilizers and goods to reduce food prices.

Legislator Cesar Rodriguez supported the proposal and noted the willingness to put it into practice immediately.

Accompanied by the ministers of Security, Gustavo Larrea and Political Coordinator, Ricardo Patiño, the president invited the Assembly to approve the emergency economic measures to combat the inflationary crisis in the agricultural sector.

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