Arab Today, arab today recessionhit brazil offers 20 bn in stimulus loans
Last Updated : GMT 14:28:10
Arab Today, arab today
Arab Today, arab today

Recession-hit Brazil offers $20 bn in stimulus loans

Arab Today, arab today

Arab Today, arab today Recession-hit Brazil offers $20 bn in stimulus loans

Brazilian Finance Minister Nelson Barbosa
Brasília - AFP

Brazil's government Thursday said it would offer $20 billion worth of special loans to stimulate the recession-stricken economy.

It will extend credit lines of up to 83 billion reals ($20.4 billion) for farming, housing and infrastructure and for small and medium-sized companies, Finance Minister Nelson Barbosa said.

The credit will be offered via public banks and other bodies "using existing resources in the best way possible" so as not to weigh on the public finances, he told a news conference.

Brazil, the world's seventh largest economy, had a gloomy start to the year as it prepares to host the summer Olympic Games in August.

Official figures showed that 1.5 million jobs were destroyed last year.

The IMF said Brazil's economy contracted 3.8 percent in 2015 and will shrink a further 3.5 percent this year.

A finance scandal that sparked impeachment proceedings against leftist President Dilma Rousseff has aggravated the crisis.

Ratings agencies Fitch and Standard & Poor's have downgraded Brazil's credit score, saying Rousseff's government has failed to clean up its public finances.

Rousseff said at an economic forum on Thursday that balancing the books was the challenge for 2016.

"In 2015 we made a fiscal tightening unprecedented in our history," she said.

"We know that there is still much to do," she added, promising further cuts to public spending.

She said she also wanted to revive a controversial tax on financial transactions that was scrapped in 2007.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today recessionhit brazil offers 20 bn in stimulus loans Arab Today, arab today recessionhit brazil offers 20 bn in stimulus loans

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today recessionhit brazil offers 20 bn in stimulus loans Arab Today, arab today recessionhit brazil offers 20 bn in stimulus loans

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday