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Brazil to announce new stimulus measures

(Xinhua)
Updated: 2009-06-19 10:57

BRASILIA-- The Brazilian government will soon announce new measures to boost the country's economic activities and raise credit limit, said Minister of Finance Guido Mantega on Thursday.

Speaking at an entrepreneurs' seminar in Sao Paulo, Mantega said, "We can not talk about the details of the measures that are being designed by the government, but they will be announced soon."

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One of the goals of the new stimulus measures is to reduce the cost of credits.

He said the international financial crisis is a real test for Brazil's economy and Brazil has passed the test.

Brazil will have a small growth in 2009, of about 1 percent, and it will have a growth of 4 percent by 2010 and 5 percent by 2011, Mantega said.

"In 2009 we will have a weak result. Positive but very weak. That means that we have to continue to roll out fiscal and monetary policies, so by 2010 we could reach a growth of 4 percent," Mantega said.