Word: sarney
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...capital city of Brasilia erupted in riots last week as 5,000 demonstrators battled security forces, burned police cars and looted stores in the first outbreak of antigovernment violence since civilian rule was restored 18 months ago. The rioters were protesting President Jose Sarney's decision to increase taxes and prices on such items as cars, electricity, gasoline and cigarettes. The measures, announced just six days after last month's landslide election victory by Sarney's centerleft Brazilian Democratic Movement Party, were aimed at cooling off an overheating economy...
Finance Minister Dilson Funaro, stung by criticism of the economic-reform package that he helped shape, submitted his resignation. Funaro returned to work, however, after Sarney expressed confidence in him and refused to accept his departure...
...outcome was also a testament to Sarney's growth-oriented economic policies. Beginning last February, he braked an inflation rate that had been nearing 250% by freezing prices and introducing a new currency called the cruzado. Said Sarney: "This is a victory for the Cruzado Plan," as his policies are called. But the plan generated a surge in consumer spending without a corresponding increase in investment, and has recently produced signs of renewed inflation, which the government now estimates to be running at an annual rate of 10.2%. After the election, the government announced a new set of tax increases...
...Sarney intends to continue his push for a more equal distribution of Brazilian wealth. The P.M.D.B. pledged during the campaign to push for a higher level of government spending for health, education and other social programs. In 1983 the richest 10% of Brazilians owned nearly half the country's wealth, while the poorest 50% owned just 14%. Sarney hopes the combination of increased government outlays and the Cruzado Plan, with its price freeze and wage hikes for workers, will help change that...
Ironically, Sarney's very success could gradually limit his power. The ambitious new politicians who will now take their seats in congress and state governors' mansions are already jockeying for position within the P.M.D.B. It may not be long before the boldest among them begin to challenge Sarney's authority...