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BRAZIL UNVEILS STIMULUS, CUTS BNDES LENDING RATE

Brazil unveiled a new round of stimulus measures on Wednesday, pledging to boost government purchases and lower subsidized lending rates for companies in another bid to revive a struggling economy.

The new measures, which call for an increase in government purchases this year of 6.6 billion reais, are part of a broader push to shield Brazil from the slowing global economy and the European debt crisis.

"Brazil will take all the necessary measures to protect production and jobs in our country," President Dilma Rousseff said in a ceremony outlining the new measures. "We have the resources to find a path to keep growing."

Read more: http://in.reuters.com/article/2012/06/28/brazil-economy-measures-idINDEE85R05F20120628

 

By orbitalnets.com