Rio, November 22, 2002 (Agência Brasil - ABr) - The foreign accounts of president Fernando Henrique Cardoso's first term of office were the object of criticism today by PT senator-elect, Aloizio Mercadante, at the closing of the First Latin American Business Summit, in Rio de Janeiro. However, he praised the US$ 12 billion surplus in Brazil's balance of payments, achieved by the current administration, despite the economic crises in the country and the world. "It is no little accomplishment," he said.

Mercadante affirmed that the country's exchange and fiscal limitations are very severe and make it impossible for the population to find opportunities. The senator-elect also guaranteed that, in the next administration, "the social will be the element that organizes the economic."

The government-elect is studying a way to concede tax incentives to banks that act in the social area. Mercadante also argued for maintaining the tax burden at its present level, in light of the economic crisis. (DAS)