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:

You May Also Like

Brazil’s Would-Be President Goes on Hunger Strike and Alienates Own Party

PMDB presidential pre-candidate Anthony Garotinho is on a hunger strike. It began on Sunday ...

Jobs and Interests Are Up and Inflation Down in Brazil

Diminished pressure from food and clothing prices in Brazil allowed the General Price Index ...

Brazil Sends the Marines to Haiti for Another Half Year

Brazil will maintain a contingent of 1,200 troops in the MINUSTAH peace force in ...

Lula Goes to Paris for Bastille Day and Brazil Year in France

According to a statement by France’s Ministry of Foreign Affairs, Brazilian President Luiz Inácio ...

Green Herd Puts Brazil on the Top of the World

The Brazilian cattle beef and dairy product sector export growth has helped the country ...

In First Press Conference Brazil’s New President Says Currency War Can Lead to Real War

Brazilian president Luiz Inácio Lula da Silva and the president elect, Dilma Rousseff, held ...

Indians Take Dam in Brazil and Threaten to Destroy Equipment

Since 28 February, the Xokleng people, who live in Alto Vale do Itajaí­, in ...

Brazilian Minister Gets UN Award for Reducing Deforestation by 50%

The Brazilian minister for the Environment, Marina Silva, is among the seven winners of ...

Brazil Sweet Home

First things first. And the first thing to have when you want to get ...

Brazil Tries to Show the Positive Side of a Weak Dollar

The executive secretary of Brazil’s Ministry of Development, Industry, and Foreign Trade, Márcio Fortes ...