Brazil's economy slowing down

Brazil, which had appeared to be immune to the global financial crisis with a booming economy, is starting to suffer from an economic downturn.

Economists say widespread bureaucracy and massive taxes, which make it difficult to start and maintain a business, have slowed down growth in what has become the most expensive country in Latin America.

A study by the World Bank released this year revealed that the tax structure in Brazil is one of the most complicated in the world.