President of Brazil said Tuesday her government will invest almost $69 billion to improve transportation systems by the end of 2014.
In a weekly column, President Dilma Rousseff wrote that the country infrastructure needs to be expanded and modernized, because this will make Brazil more competitive. She did not provide details on the investment package.
There are significant demands on Brazil to improve its transportation systems before the South American country hosts the 2014 football World Cup and the 2016 summer Olympics.
Brazil long has suffered from bottlenecks at its ports, railways, highways, and airports. Experts say the inefficiencies hurt economic growth by making it difficult and more expensive to transport the country commodities to foreign markets.