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原文阅读：世界杯导致巴西汽车销量下滑

Brazil has extended controversial tax breaks for the car industry, blaming the World Cup for reducing sales in the world’s fourth-largest auto market.
Finance minister Guido Mantega said on Monday that he would maintain the reduced manufactured goods levy, known as IPI, for carmakers for another six months until

December, bringing the total cost of the measure to the government this year to about R$1.6bn ($727m) in lost tax revenue. He also extended an IPI tax break for the furniture industry.

The government had previously said it would let the tax break for cars expire in July as fears grow that Brazil will not be able to meet its fiscal target this year. Earlier on Monday, the central bank reported the second-widest primary budget deficit for the month of May in the country’s history.

However, Mr Mantega said the car industry needed further support after sales in the first half of the year were hit by tighter credit conditions as well as the effects of the World Cup. The football-mad nation has largely ground to a halt since the tournament kicked off in the middle of June, hitting some retailers and putting many businesses on hold.

“Although the World Cup is very good for the country and is a big success, bringing many tourists, it causes some problems for specific sales and industries,” Mr Mantega said.

Luiz Moan, head of Anfavea, the national automakers’ group, welcomed the move, saying it would help sales recover in the market, which has been struggling for months as Brazil’s economy slows.

Car sales fell for the first time in a decade last year, ending a boom in the industry that had not only propelled the economy but also benefited the ruling Workers’ party, which has strong links with the industry’s unions.

While data from June have not yet been released, new car registrations dropped about 7 per cent in May from the previous year, according to Anfavea.

Mr Mantega dismissed concerns about the effects of the measure on the country’s primary budget balance, attributing May’s weak fiscal result to “strong comparisons”.

Brazil’s primary budget surplus is currently around 1.5 per cent of gross domestic product on a 12-month basis, below the country’s 1.9 per cent target for this year, according to Alberto Ramos at Goldman Sachs. As a measure of the public sector’s excess revenue and thus capacity to repay debt, the primary surplus is closely watched by investors as a sign of the country’s creditworthiness.

“In our assessment, it will be very difficult for the government to meet the 1.9 per cent of GDP fiscal target in 2014 unless it is able to count on significant extraordinary non-recurrent revenue during the second half of this year and/or exerts strict control over current spending,” Mr Ramos wrote on Monday before the latest tax breaks were announced.

学习指南：

1. Word of the day

creditworthiness: the reliability that sb. is able to be trusted to pay back money that is owed 信用可靠度, 信誉

小编注：creditworthiness来源于形容词creditworthy（信誉好的；信用可靠的），但creditworthy含褒义，而creditworthiness是中性词。

2. Phrase of the day
attribute to: If you attribute something to an event or situation, you think that it was caused by that event or situation. 把…归因于;把…归咎于

小编注：attribute to除了有“把…归因于”的意思，还可以表示“将（品质或特征）加于…”以及“认为(文章、艺术品或评论）出自…”，比如：

3. Sentence of the day

小编注：分句中的“the world’s fourth-largest auto market”指的是巴西， 分句逻辑主语是Brazil.

4. Cultural point of the day

Goldman Sachs（高盛集团）：高盛是一家国际领先的投资银行和证券公司，向全球提供广泛的投资、咨询和金融服务，拥有大量的多行业客户，包括私营公司，金融企业，政府机构以及个人。高盛集团成立于1869年，是全世界历史最悠久及规模最大的投资银行之一，总部设在纽约，并在东京、伦敦和香港设有分部，在23个国家拥有41个办事处。其所有运作都建立于紧密一体的全球基础上，由优秀的专家为客户提供服务。同时拥有丰富的地区市场知识和国际运作能力。

5.Translation of the day

小编注：这句话中， ending现代分词做状语，表结果，即汽车销量的降低导致了汽车业繁荣状况的结束，因此我们可以看到that引导的定语从句之前的分句与主句逻辑联系较强，可以单独翻译成一句。再将后半部分的定语从句单独翻译，注意此时句子的主语变成了the industry, 也就是汽车业。从句是由not only…but also…连接的并列句，较为复杂，因此不宜将which引导从句翻译成前置定语，造成定语冗长的现象。小编建议翻译时考虑到该从句事实上解释了汽车业也是劳工党的助力的原因，重新整理句子，翻译出来。
 

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