In Brazil, 60% Will Be Middle Class by 2018, Says President Rousseff

Brazilian middle class In Washington, while speaking on the world economic crisis during her visit to the United States at the beginning of the week, Brazilian president Dilma Rousseff described the situation as one that forced people to search for ways to overcome paradigms and find new opportunities.

As for Brazil, Dilma said the growth of the middle class was a stimulus for the country to maintain efforts for economic growth. According to Dilma, by 2018 fully 60% of Brazil’s population will be middle class.

“The middle class is the key to economic growth in our country,” she said to an audience of Brazilian and American business leaders. “The crisis has placed enormous challenges before us. But it has also been a moment that enabled us to move beyond paradigms.”

The Brazilian middle class consists of what are known as economic classes C1 and C2 in a much-used table by the Association of Brazilian Research Companies (ABEP), where earnings range from R$ 1,194 to R$ 2,905 per month per individual in C2, which they calculate as reaching a ceiling of R$ 4,778 for a family of four.

Earnings per month per individual vary from R$ 2,012 to R$ 4,778 in C1, reaching a ceiling of R$ 8,050 for a family of four. Another table, by the government statistical bureau (IBGE), defines the middle class, “C,” as having monthly earnings between 6 and 15 minimum wages (that is, from R$ 3,732 to R$ 9,330).

With the dollar at R$ 1.80, the ABEP ceiling for C2 would be $2,654 ($31,848 per year) and $4,472 ($53,664 per year) for C1. On the other hand, in dollars the IBGE middle class would earn monthly wages in dollars between $2,073 and $5,183 (between $24,876 and $62,196 per year).

The US minimum wage is $7.25 per hour, which works out to $15,080 per year for a person working full time at the minimum wage.

Dilma said that Brazil’s efforts to overcome economic difficulties were based on solid pillars. She pointed out that Brazil had more reserves than debt and that whereas in 2002 the debt to GDP ratio was 64%, it is now 36.5%.

Dilma explained that the government was making an effort to be more transparent and efficient in the use of public funds. She said the effort was in response to demands by the public and private sectors, as well as a clamor from Brazilian society.

“It is important to emphasize that the initiative is by the government, the business community and the Brazilian people,” she said.

Dilma went on to say that Brazil had made “a clear option” to achieve economic growth with social justice and more democracy. “What we want is a mass consumer market where there is social justice,” she said.

As she defended the use of the Brazilian middle class to propel economic development, Dilma pointed out that similar processes were underway in other BRICS nations, Russia, India, China and South Africa where large nations face similar challenges of empowering marginalized populations that are poor and hungry.

ABr

Tags:

  • Show Comments (1)

  • usa

    60% middle class in brazil????? no way !!!!….not in a agricultural economy where a handfull of brazilian business owners own the large farms and ranches .brazil is having an uptick in commodities orders from china .once china slows down and the usa goes into protectionism and americans start producing huge aounts of its own oil and gas then its over for the opec suppliers the chinese ,and all world markets .the usa will be the worlds largest producer and economy in the world …rousesseff is a liar !!!..brazil is headed for inflation and a serious downturn in commodity orders.

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Case of American Pilots Involved in 154 Deaths in Brazil Back in Court

The Brazilian court is once again dealing with the freak 2006 aviation accident that ...

Presidents Kirchner, Chavez and Lula

Brazil, Venezuela and Neighbors Create Development Bank

The Finance and Economy ministers from Argentina, Brazil, Bolivia, Ecuador, Paraguay and Venezuela decided ...

Brazil: Plenty of Good New$

There is a clear message in the sudden surge of interest by foreign investors ...

At Midnight, You Will Be One Hour Farther from Brazil

Clocks in Brazil should be set forward an hour at midnight tonight, in the ...

Brazil's beverage company Ambev one of the most profitable

Brazil Discovers the World of Open Capital and Is Making Money

The number of Brazilian companies that opened their capital between 2004 and March this ...

US Goes with Brazil on Labelling Genetically Modified Food

The United States has decided to accept the Brazilian position on international labelling of ...

How Did the US Let Brazil and Latin America Swim Away

President George W Bush, harried on numerous fronts at home, might well rue a ...

Canadian Firm Keeps Digging for Gold in Northern Brazil

Canada-based Lund Gold Ltd. announced yesterday that the remainder of its 2,000 meter Phase ...