Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.945

-1.1%

Nov 26 3:59 PM EST

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To: Steve Fancy who wrote (1082)	2/26/1998 5:16:00 PM
From: Steve Fancy	Read Replies (1) of 22640

INSTANT VIEW-Brazil budget deficit seen worrisome Reuters, Thursday, February 26, 1998 at 09:47 SAO PAULO, Feb 26 (Reuters) - The following are economists' remarks following the Central Bank's release of fiscal data confirming reports Brazil posted a higher-than-expected nominal budget deficit equivalent to 5.89 percent of gross domestic product. The market expected a 5.0 percent shortfall. CASSIO SCHMITT, ECONOMIST, UNIBANCO: "This was not expected and it is worrisome. It is going to have a bad impact on the market." Analysts had expected a worsening of fiscal accounts in December prompted by a hike in domestic interest rates following the Asian crisis. "(But) we didn't expect it was going to be this bad," Schmitt said. Copyright 1998, Reuters News Service

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