Is Brazil Set For A Surge?Bill Hinchberger
The "fulcrum of productive activity is passing from the state sector to the private sector," says Brazil's new President, Fernando Henrique Cardoso. Completing that shift will be the key to continued success in Cardoso's radical anti-inflation strategy during his four-year term, which began on Jan. 1. As Finance Minister last year, Cardoso slashed inflation from more than 40% per month to just 2% in December with his Real Plan, which includes a new currency, the real, now worth $1.17. Rising business confidence, buoyed by the plan, is expected to expand gross domestic product by close to 5% this year, up from more than 4% growth in 1994.
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