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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.450-4.3%Jan 23 9:30 AM EST
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To: Steve Fancy who wrote (6797)8/18/1998 3:52:00 PM
From: Steve Fancy  Read Replies (1) of 22640
 
Cardoso vows to continue fight for Brazil reforms

Reuters, Tuesday, August 18, 1998 at 12:36

SAO PAULO, Aug 18 (Reuters) - Brazilian President Fernando
Henrique Cardoso on Tuesday promised his government would keep
up a struggle to push through structural reforms designed to
bring down interest rates and heat up the economy.
"We are going to continue fighting for the reforms that are
necessary for us to be able to lower interest rates and speed
up economic growth," Cardoso said in a speech to executives in
Sao Paulo.
Cardoso did not elaborate in his comments to executives in
the food sector, adding only that he wanted Brazil's economic
turnaround to translate into palpable well-being for the
population.
He is a firm favorite to win re-election in October largely
on the back of the success of his inflation-beating policies.
But global economic turmoil has put a dent in Brazil's progress
and analysts say Cardoso's campaign will have to focus on
social issues to capture the hearts and minds of voters.
An opinion poll published in newspaper Folha de S.Paulo
Tuesday showed him able to win outright in a first round
election with 42 percent of intended votes.
Economists would like to see Cardoso's government do more
to cut Brazil's bloated public sector deficit, which they
expect to be around seven percent of gross domestic product
(GDP) this year.
The government has been struggling to put social security
and tax reforms in place to trim the public sector.

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