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News 23

Brazil's new stimulus package aims at 4.5% growth

Brazil on Tuesday launched a new economic stimulus package that aims to increase gross domestic product (GDP) growth to 4.5% this year from 2.7% in 2011. In 2010 Brazil's economy grew by 7.5% on the back of the previous stimulus package launched after the 2008 global financial crisis.

The UK-based Centre for Economics and Business Research (Cebr) estimated that Brazil would overtake the UK this year as the world's sixth largest economy with a GDP of US$2.518-trillion compared with the UK's $2.481-trillion and fifth-ranked France's $2.808-trillion. 

The US remains top of the ranking at $15.065-trillion, followed by China at $6.988-trillion, Japan at $5.855-trillion and Germany at $3.629-trillion.

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