Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.437

+7.8%

3:52 PM EST

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To: md1derful who wrote (8274)	9/18/1998 12:27:00 PM
From: Steve Fancy	Read Replies (2) of 22640

Gov't announces additional spending cut of R$ 2bn - rpt Bras¡lia, 18 - The Brazilian government decided to add R$ 2.1bn to the budget cuts announced last week of R$ 4.4bn, increasing it to R$ 6.5bn. The new cuts will be possible through a 30% reduction in federally-owned companies'investment plans totaling R$ 3bn, in addition to a R$ 600m cut in the volume of federally-owned banks' loans to states and municipalites, as well as the payment of Petrobras's arrears amounting to R$ 500m owed to the National Treasury. (O Estado de S. Paulo/ Jornal da Tarde/ Folha de Sao Paulo/ O Globo/ Correio Braziliense)

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