English to Romanian Other Management

Brazil has made dramatic progress. Figure 1 makes the pointforcefully: starting from hyperinflation levels, inflation has been under control for the past three years and there is no sign of it coming back. But the stabilization program is unconventional and this raises doubts about its eventual success. Brazil has big budget deficits, large real appreciation, and a large and growing deficit; there has been a major increase in real wages and incomplete progress on broad-based economic reform.