Fight against poverty to encourage investment in Brazil?
Date added: 3rd June, 2011 at 10:46
(view all articles from June, 2011)
Categories: Economy
Investment in Brazil may grow if a plan announced by the country's president Dilma Rousseff yesterday (June 2nd) succeeds.
The initiative, known as Brazil Without Poverty, aims to help 16.2 million people by 2014 and includes the extension of the Bolsa Familia scheme put into place by Ms Rousseff's predecessor Luiz Inacio Lula da Silva.
"Social inclusion makes our growth sustainable," the president stated, according to the Financial Times.
Indeed, official figures show that Lula's initiatives helped move 36 million Brazilians into the middle class demographic during his eight-year term - a success that has attracted investment in the country as the growing wealth of the people led to increased consumerism.
Bolsa Familia gives cash payments to people who are living in poverty and part of Rousseff's plan is to extend this programme, as well as offering other social schemes.
In the announcement of this initiative, the president is following through with one of her campaign promises to maintain Lula's focus on welfare schemes.
People investing in Brazilian property may be particularly interested in this approach, as affordable housing projects like Minha Casa Minha Vida (My House, My Life), which were designed to help people buy their own homes, have had a beneficial impact on the real estate sector.
Indeed, Flavio Cabrera of Lopes Real Estate Consultants recently told Property Wire that he expects such programmes to continue while Ms Rousseff is in power, calling her election "the best thing that could have happened" for the nation's construction industry.
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