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Why has Brazil's economy slumped?

16 July 2013 Last updated at 12:29 BST

What is happening to Brazil's economy?

Celebrated as emerging as part of the powerful BRIC economies, it has nosedived in recent weeks.

Brazilian citizens have taken taking to the streets in massive protests across the country to voice their anger at the nation's governance.

The Today programme's business presenter Simon Jack is in Brazil and sent this report from Sao Paulo.

First broadcast on BBC Radio 4's Today programme on Tuesday 16 July 2013.