15 August 2012

Tunisia: Brazil Announces U.S.$60 Billion Stimulus Package

Brasilia — Brazil's government unveiled the first phase of a major economic stimulus package designed to boost growth in the flagging economy.

More than $60bn (£38bn) will be invested in the country's roads and railways over the next 25 years, with more than half in the next five years. This includes 8,000 kilometres of new roads and 8,000 km of railways.

At an event attended by the country's leading businessmen, President Dilma Rousseff announced the sale of concessions in roads and railways to private sector investors as the government tries to counteract a prolonged slowdown in the economy.

Further announcements involving investment in ports and airports are expected in the coming weeks.

Growth in Brazil is predicted to be less than 2% this year, the weakest annual performance since 2009 and a sharp slowdown from an impressive 7.5% rise in 2010.

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