Drinks Prices Reined In, a Boost for World Cup Fans

Brazil's finance ministry plan of hold on tax hike on beverages till the complete of the big event was a toasting event for World Cup fans.

June had been set to see a tax hike on cold drinks but Finance Minister Guido Mantega told reporters the measure was being postponed until after the June 12-July 13 tournament.

"The government will postpone the tax rise," said Mantega.

"It will be a Cup without drinks price rises," he said following a meeting with representatives of the industry, bar owners and restaurateurs.

Brazil will welcome some 600,000 tourists as well as some three million domestic visitors to venues in 12 cities during the soccer extravaganza.

The chairman of the Brazilian Association of Bars and Restaurants recently claimed putting up taxes on beverages could threaten some 200,000 jobs by the time the Cup ends.

Source: AFP