Despite Record Investment in 2005 Brazil’s Housing Deficit Still at 7.2 Million Homes

Brazil’s Minister for the Cities, Márcio Fortes, stated that 2005 was a year in which the federal government of Brazil turned record funds to habitation.

In an interview to magazine Revista Brasil, Tuesday, January 17, the Minister said that adding the values invested by the federal government, the Federal Savings Bank and by the severance pay indemnity fund, the total reaches R$ 15.3 billion (US$ 6.7 billion). That is the best in eleven years, says the Minister.

Fortes reports that the Luiz Inácio Lula da Silva administration will continue its effort to reduce the country’s housing deficit, estimated at 7.2 million homes, by concentrating on low-cost housing for low-income families, without forgetting about the middle class.

"We have turned R$ 9.2 billion (approximately US$ 4 billion) to the construction, redoing and urbanization of slums. (…) Around 46% of this value was turned to families with income of up to three minimum salaries (around US$ 400)."

According to him, around 70% of the funds applied by the Federal Government were turned to low-income families.

The Minister also announced that the target for 2006 is to reach R$ 18.6 billion (US$ 8.1 billion) in housing investment.

"With this value we will manage to supply 70,000 units, we are going to keep the market active all the time. We must also cheapen the cost of housing, we are working to accelerate the reduction of the deficit," he pointed out.

Agência Brasil

Tags:

  • Show Comments (1)

  • Guest

    GAY
    Your adds suck

Your email address will not be published.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

Led by Industry Economy Grows 5.4% in Brazil

The Brazilian economy grew by 5.4% in the second quarter compared with the same ...

Brazil Takes 30-Year Biofuel Experience to Energy Summit in the Middle East

The Fiesp (Federation of Industries of the State of São Paulo) is working to ...

Brazil’s Orange Juice Exports to Arab World Grow Four-Fold to US$ 3.3 Million

Consumption of Brazilian orange juice is increasing in the Arab countries, especially in Saudi ...

Fitch Sees Bright Future for Water and Sewage Companies in Brazil

According to Fitch Ratings, which has just released a special report entitled "Brazilian Water ...

Brazil Looks for Ways to Help Tobacco Farmers

Nearly 95% of the proposals contained in the World Health Organization’s Framework Convention on ...

Cabo Branco beach in João Pessoa, Brazil

The More I Hear About the US the More I Want to Move to Brazil

It is no secret that I am one American thrilled with Brazil and especially ...

Biofuel Companies in Brazil Sign Cooperation Accord

Brazilian Biofuel projects based on sugarcane farming on irrigated areas in Minas Gerais, Bahia ...

Brazil’s Lula Urges New Pope to Promote Social Justice

Brazilian President Luiz Inácio Lula da Silva sent a message to His Holiness, Pope ...

Feel-Good Sentiment in Brazil Boosts Market

Latin American markets finished mostly higher, led by a surge in Brazil as inflation ...

Brazil’s Lula Has Spent US$ 6.8 Billion on Social Programs

The Luiz Inácio Lula da Silva administration has spent a total of US$ 6.8 ...