Brazil's Cardoso Thanks Voters For Second Mandate
Dow Jones Newswires
BRASILIA -- In his first public appearance since winning re-election
Sunday, Brazilian President Fernando Henrique Cardoso thanked voters
Wednesday for a second mandate, but warned that sacrifices lie ahead for
economic growth to resume.
In a speech similar to the one he gave ten days before elections, Cardoso
recognized that the government's priority is to reduce the public deficit,
now at over 7% of gross domestic product.
To that end, Cardoso said that the government will release details of a
multi-year fiscal austerity plan by Oct. 20.
Cardoso, who said that a new international economic reality has made the
fiscal adjustments necessary, added that the measures will be discussed
throughout Brazil and will be presented with "complete transparency" to
international institutions.
He called on Congress to start working on key reforms immediately, even
before the new government and members of Congress are sworn in in
January.
"More than ever, there has to be a willingness in this country for dialogue
and solidarity," Cardoso said.
Cardoso, credited with bringing stability to Brazil in his first term, pledged
to preserve stability and protect the country's currency, the real. |
