$12bn earmarked for Brazil’s ports in giant new stimulus package

$12bn earmarked for Brazil’s ports in giant new stimulus package

Sao Paolo: As the nation faces its worst economic figures since 1990, Brazilian president, Dilma Rousseff, yesterday announced a giant stimulus package worth close to RLS200bn ($64.78bn).

Of the total, some $12.1 billion will be spent on ports.

Among the most ambitious projects announced yesterday is a a trans-continental rail link connecting the Atlantic and Pacific oceans, giving Brazil a cheaper route to China. China is willing to help fund and build the project.

How much of this planned stimulus actually materialises is debateable however. A similar initiative in 2012 only saw 25% of the projects completed.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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