Economists expect an economic stagnation for the country in 2020.[120] As such, on 16 March, the Ministry of Economy announced a stimulus package of R$147.3 billion (US$29 billion) to help the economy against the effects of the pandemic.[121] The Brazilian government is also in negotiations with the New Development Bank to receive an aid package for its COVID-19 efforts; China received one billion USD from the same institution.[122]