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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Derrick P. who wrote (8697)10/1/1998 12:43:00 PM
From: MGV  Respond to of 22640
 
They absolutely need to cut spending and/or raise taxes to reduce the public deficit. If they do that, they will be in position to a: reduce interest rates from 49.75%, which surely will cause a recesssion or worse if they do not cut them soon; and, b. attract foreign investment because of structural reforms and responsible macro-economic policy. It is cost-benefit analysis. the benefits of spending cuts and tax increases far, far outweigh the costs of the alternative.



To: Derrick P. who wrote (8697)10/1/1998 12:45:00 PM
From: MGV  Read Replies (1) | Respond to of 22640
 
Do they have room to cut programs and raise taxes without depressing the economy?

Yes, absolutely.



To: Derrick P. who wrote (8697)10/1/1998 1:03:00 PM
From: dougjn  Respond to of 22640
 
I second Darkgreen's responses.

On of the reforms that failed so far was raising the retirement age for full pensions for civil servants from the current 55.

Doug


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