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Brazil increases funding for agriculture, livestock sector

06-08-2010 10:48 BJT

RIO DE JANEIRO, June 7 (Xinhua) -- The Brazilian government announced on Monday a 116 billion reais (61.7 billion U.S. dollars) agriculture and livestock plan for the 2010/2011 season.

The funding is 7.4 percent higher than in the 2009/2010 plan. Of this amount, 100 billion reais (53.2 billion dollars) will be used in commercial agriculture, while the remaining 16 billion reais (8.5 billion dollars) will be allocated for family agriculture.

"It is the highest volume of resources ever," said Agriculture Minister Wagner Rossi. "It is an extremely significant amount."

According to him, Brazil will have record-high crops in several sectors, which will demand more resources. Brazil has a large agricultural sector, which accounts for 40 percent of the country's exports and about a quarter of the gross domestic product.

Editor:Zhang Jingya |Source: Xinhua

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