Tag Archives: crisis
Brazil’s Lula Announces Anti-Crisis Plan Posted by Rachel on Mar 26, 2009
Brazil’s President Lula announced an ambitious plan this week to stimulate the economy and to ward off the global crisis. The plan is to invest R$34 billion (US$15.1 billion) into constructing homes for working class families. The plan also aims to create 1.5 million jobs and to increase the country’s growth rate. However, 6.5 billion…
Economic Crisis Hits Rio Carnival Posted by Rachel on Jan 28, 2009
The global economic crisis has begun to affect Brazil, with mass lay-offs and budget cuts. The latest victim of the crisis is Rio de Janeiro’s world famous Carnival celebration. First, price increases are hitting the samba schools hard. Materials used to create costumes and floats have are now much more expensive after a 7% increase…