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Home International Customs Brazil

Brazilian president announces package worth $64.78b for port

byCustoms Today Report
12/06/2015
in Brazil, International Customs
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SAO PAOLO: As the nation faces its worst economic figures since 1990, Brazilian president, Dilma Rousseff, announced a giant stimulus package worth close to RLS200bn ($64.78bn).

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

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Among the most ambitious projects announced 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.

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