On the eve of a planned trip to Bolivia and Venezuela, Brazil's President Luiz Inacio Lula de Silva announced today more state aid for the county's economy.
One measure will free credit from Brazil's National Development Bank. Silva said more measures will be announced later.
Brazil's economy was strong before the economic downturn, but Silva says the first quarter of 2009 will be difficult.
Brazilian stocks continue to fall today. Brazil's Ibovespa index was down 2.3 percent today in the first 30 minutes of trading.
Agribusiness and other industries that depend on exports also are suffering.
Source: AP
Photo: Spiegel
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