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

To: Steve Fancy who wrote (15404)	5/19/1999 3:03:00 PM
From: wl9839	Read Replies (2) \| Respond to of 22640

Merrill Lynch revises up Brazil's indicators for 1999 São Paulo, 19 - U.S. brokerage Merrill Lynch has revised up projections for Brazil's economy in 1999. In a report entitled "Brazil: a Bias for Growth", Merrill Lynch announced it is revising up the country's GDP estimate for this year to -0.6% from -3.5%, "as a result of much better than expected first quarter figures." Merrill Lynch has also revised the GDP projection for the year 2000 to 4.2%, compared to a previous estimate of 3.7%. In addition, the Brazilian inflation for 1999 has been revised to 7.8%, from 14.8% before. The brokerage also bets the Brazilian currency, the real, will close out the year stronger, at R$ 1.70, compared to R$ 1.75 estimated in its previous report. On the other hand, Merrill Lynch has revised down Brazil's trade balance surplus for 1999 to US$2.5bn from US$5.8bn. (By Fábio Pagotto) Copyright © 1996 Agência Estado. All Rights Reserved.