Brazil Industry Hopeful New Housing Fund Will Boost Economy

The São Paulo industrial sector is optimistic about the economic effects of the National Social Interest Housing Fund, sanctioned June 16 by Brazilian President Luiz Inácio Lula da Silva.

“The construction industry is important and employs many people,” the president of the Federation of Industries of the State of São Paulo (Fiesp), Paulo Skaf, commented.


“With programs like this, together with the drop in interest rates, the recovery of foreign currency exchange rates, and the reduction of government spending, the outlook will undoubtedly be positive,” he affirmed.


In the judgment of the director of the Fiesp’s Committee for the Construction Industry Productive Chain (Comcic), Mário William, the law establishing the National Social Interest Housing Fund and the National Social Interest Housing System represents a “good incentive” for the construction industry.


The proposal, which circulated in the Congress for 13 years before being approved at the end of May, is mainly intended to combine and coordinate housing resources at the three levels of government – federal, state, and municipal -, and direct them to the benefit of low income families.


The World Bank approved a US$ 502.5 million loan to the National Treasury, to be used on behalf of Brazilian government policies. Of this total, US$ 4 million will go to technical assistance projects in the housing sector, according to the secretary of Housing, Inês Magalhães. The government will have 17 years to repay the loan.


For Magalhães, this loan reflects recognition of the policies and initiatives implemented by the federal government, such as the National Social Interest Housing Fund (FNHIS). She affirms that the funds will help with the measures to reformulate and regulate these programs.


ABr – www.radiobras.gov.br

Tags:

  • Show Comments (0)

Your email address will not be published.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

With Seeds and Stones, Brazilian Shoes Sweep Women Off Their Feet

The luxury shoes designed by Jorge Guimarães are already on the feet of Arab ...

Argentina’s Leader Is Americas’ Most Popular. Brazil’s Lula Comes in 10th

Argentina's president Nestor Kirchner together with the presidents of Colombia Alvaro Uribe and Mexico's ...

Saudis Open the Door Again to Brazil’s Factory

Pormade, a wooden door factory located in the city of União da Vitória, in ...

Brazil: Cardoso is Catching Lula’s Illiteracy

Former Brazilian President, Fernando Henrique Cardoso, is an educated man and – his Marxist ...

Brazil Says No to Iran Invitation to Join OPEC

The Brazilian government has turned down a formal invitation by Iran for Brazil to ...

Brazil Denies Charges of Orange Juice Dumping and Might Go to WTO Against US

Brazilian exports of concentrated orange juice to the United States are worth around US$ ...

Brazil Has No Viable Export Strategy, Says Former Industry Minister

Brazilian former Industry, Trade and Tourism Minister Dorotéa Werneck described the export situation of ...

Brazil Will Keep on Buying Bolivian Gas If the Price Is Right, Says Lula

Brazilian President Luiz Inácio Lula da Silva stated Monday, May 15, that Brazil will ...

Brazil's opposition candidate to the presidency Geraldo Alckmin

Are Brazilians Ready for Democracy? They’ll Answer on the Ballot Box

The first big soccer event in Brazil after the disappointing performance of the national ...

PCC, the Mafia Maintaining Brazil Hostage, Was Created 9 Years Ago

The street gang offensive against Brazilian police that has left scores dead continued early ...