Skip to main content
Advertising

Originally published Wednesday, June 27, 2012 at 10:05 AM

  • Share:
           
  • Comments (0)
  • Print

Brazil gov't announces $4B stimulus package

Brazil's government is announcing a new, $4 billion economic stimulus package to combat stagnant growth.

The Associated Press

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

BRASILIA, Brazil —

Brazil's government is announcing a new, $4 billion economic stimulus package to combat stagnant growth.

The program announced Wednesday by President Dilma Rousseff focuses on a wide array of government purchases, from backhoes to motorcycles to military equipment.

Rousseff says the government will use stimulus packages "without restriction" as Brazil is hit by the crisis in Europe and hobbled by slowing domestic consumer demand.

Officials say the bulk of the money will be spent this year.

Brazil's economy grew just 0.2 percent in the first quarter of this year.

Last year the economy advanced 2.7 percent - making it the weakest among the so-called BRICS emerging nations group.

The government maintains a target of 4 percent growth this year. But market forecasts put expansion at 2.2 percent.

News where, when and how you want it

Email Icon

Career Center Blog

Career Center Blog

How to talk yourself into a job


Advertising