Top 5% Weathiest Brazilians Lose 0.3% of Their Fortune

Brazil’s Minister of Labor, Luiz Marinho, says that the fall in economic inequality shown in the 2004 Household Survey (Pesquisa Nacional por Amostra de DomicÀ­lios) (Pnad), shows that Brazil is on the right track of development.

The survey was conducted by the government statistical bureau (Instituto Brasileiro de Geografia e Estatí­stica) (IBGE) and according to Marinho reflects the fact that it is possible for income distribution to occur even for very poor families that have always been beyond the reach of the benefits of citizenship.

The survey found that there was a drop of 0.3% in the wealth of the country’s richest 5%, while there was an increase of 3.2% in the wealth of the country’s poorest 50%.

With regard to the country’s mininum wage, now at R$ 300 (US$135), Marinho said he was in favor of a policy that would guarantee permanent increases in the purchasing power of the minimum wage. But he added it was going to be difficult to raise it to 400 reais (US$ 181) next year.

The United Nations Human Development Report, released in September, analyzed 177 countries and concluded that Brazil ranks eighth (from worst to best) in terms of social inequalities.

The report shows that 46.9% of the Brazilian income is concentrated in the hands of the wealthiest 10% of the population.

"There are only five countries in which the poorest 10% of the population commands a smaller share of national income than poor Brazilians do (0.7%). [They are]Venezuela and Paraguay (0.6%), and Sierra Leone, Lesotho, and Namibia (0.5%)," the document informed.

First on the list of the world’s most unequal countries, in which income is most unevenly distributed, is Namibia, in Africa, followed by five other African countries: Lesotho, Botswana, Sierra Leone, the Central African Republic, and Swaziland. Seventh place is held by a Central American country, Guatemala.

A country’s degree of social inequality is determined by the Gini coefficient, named after Corrado Gini, the Italian statistician, demographer, and sociologist who developed the index in the early part of the 20th century.

ABr

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Your email address will not be published.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

US-Style FTAA Would Have Been Wrong Medicine, Says Brazilian Minister

The Brazilian Minister of Foreign Relations, Celso Amorim, admitted that some sectors in Brazil ...

Brazil’s Lula Says There’s Enough Money to Settle 400,000 Farming Families

The Brazilian federal government plans to allocate US$ 4.5 billion for the National Family ...

After Meeting London Mayor Lula Keeps Mum About Brazilian Killed as Terrorist

Brazilian President Luiz Inácio Lula da Silva met London Mayor Ken Livingstone at Buckingham ...

Strong Real Hurts Brazilian Agribusiness

New data for the Brazilian government show that weak performance in Brazil’s agricultural sector ...

After Reaching 146 Countries Brazil Now Wants to Export Shoes to China

Apex-Brasil, the Brazilian Export and Investment Promotion Agency announced yesterday during the Couromoda fair, ...

COVER STORY

Brazzil – Behavior – Cover Story – June 1996   More sex please! We ...

Brazil’s Lula Is Against Reelection, But He’ll Run Again Anyway

In an interview with radio stations on Wednesday, December 8, Brazilian President Luiz Inácio ...

Brazil Reminds Chavez of Need for Freedom of Expression and Independent Justice

While saying it is a “good friend” of Venezuela and his president, Hugo Chavez, ...

A Mixed Bag for Brazilian Job Market

The index of new hires by firms in the São Paulo metropolitan area continued ...