Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.535

+2.8%

Jan 8 3:58 PM EST

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To: Steve Fancy who wrote (9743)	11/17/1998 5:34:00 PM
From: Steve Fancy	of 22640

Brazil cenbank to announce budget deficit data Reuters, Tuesday, November 17, 1998 at 13:41 BRASILIA, Nov 17 (Reuters) - Brazil's Central Bank was due to announce public sector budget deficit data for the January-August period at 1100 local/1300 GMT Wednesday, a Central Bank spokesman said. Between January and July, the nominal budget deficit stood at 7.02 percent of gross domestic product (GDP). The Central Bank recently stopped reporting the deficit over 12 months. The government last month announced a sweeping fiscal austerity drive to tackle the budget gap, considered the Achilles heel of Brazil's four-year economic recovery. The nominal budget deficit is forecast to narrow to 4.7 percent of GDP in 1999, according to official estimates, with an improvement in primary accounts due to offset the projected growth in net public sector debt. The Central Bank was also due to release monetary base details for the month of September. joelle.diderich@reuters.com)) Copyright 1998, Reuters News Service

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