For question below, choose the answer which best fits the ideas in the text.Brazil: One Growth Obstacle after Another
After just eight months in office, President Luiz Inácio Lula
da Silva of the left-wing Workers' Party has won congressional approval
for economically critical and politically controversial pension and tax
reforms. Now, however, da Silva faces a bigger challenge: reviving
Brazil's economy. In 2003's first half, Brazil's
economy fell into recession. Most economists expect growth for the
entire year to be a miserly 1%. And a governmentlinked research group
recently embarrassed ministers by predicting growth of just 0.5% in
2003. Taxes are a serious obstacle to growth. Brazil's tax burden is
among the highest in the world, equal to 41.7% of salaries. Reforms now
proceeding through Congress will simplify the tax system, but won't
reduce the total burden. That will be possible only if interest rates
fall and the government can keep spending in check, thereby reducing the
amount of money needed to pay its own debts. For now, Brazil's economy
is going nowhere.(By Jonathan Wheatley in São Paulo - adapted. From: Business Week September 10, 2003)According to the text, a think tank recently caused the government some embarrassment by predicting
a) lower growth than most other economists had forecast.
b) cynicism over the government's tax reform program.
c) one of the highest tax burdens in the world.
d) stubbornly high interest rates for bank loans.
e) further cuts in the national interest rates for loans.