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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.437+8.3%3:59 PM EST
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To: Steve Fancy who wrote (8995)10/14/1998 7:14:00 PM
From: Steve Fancy  Read Replies (2) of 22640
 
Brazil's Govt Sets Fiscal Moves Release For Tues - Estado

Dow Jones Newswires

SAO PAULO -- A top Brazilian official said late Wednesday that the
government plans to announce fiscal austerity measures Tuesday, the
Estado news agency reported.

Asked if the government would delay the much-anticipated release of the
measures until after key state gubernatorial races are decided Oct. 25,
Planning and Budget Minister Paulo Paiva said "We've scheduled it for
Oct. 20."

President Fernando Henrique Cardoso said last week that his team of
economic advisors would put together a multi-year fiscal adjustment plan
for his review by Oct. 20. On Tuesday, presidential spokesman Sergio
Amaral hinted that the measures could be announced around that same
date.

Financial markets are eagerly awaiting the government's plans to attack the
country's massive public deficit - at 7% of gross domestic product - and
restore confidence among investors who have fled over the past two
months.
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