Brasília - The author (relator) of the government's Multi-Year Plan (Plano Plurianual de investimentos) (PPA) for the períod from 2004 to 2007, senator Roberto Saturnino (PT-RJ), has confirmed that a vote on the bill will only take place in January during the extraordinary session scheduled to begin on January 20. Saturnino explained that the bill was big and complex and needed more time for examination in committee.

Saturnino pointed out that among the controversial items in the PPA bill were the primary surplus targets it set (4.25% in 2004; 3.75% in 2005; 3.5% in 2006 and 3.25% in 2007). As for GDP growth, the targets are 3.5% in 2004; 4% in 2005: 5% in 2006 and 5% in 2007. In the PPA bill, inflation is seen as falling from 7.5% in 2004, to 4% in 2007 (this is inflation as measured by the IGP-DI). Finally, the debt/GDP ratio, presently at 58%, is to drop to 48.94%. (AB)
.