Brazil’s President Lula announced an ambitious plan this week to stimulate the economy and to ward off the global crisis. The plan is to invest R$34 billion (US$15.1 billion) into constructing homes for working class families.<\/p>\n
The plan also aims to create 1.5 million jobs and to increase the country’s growth rate. However, 6.5 billion reais will be taken away from other government programs, which the administration has not named. The plan comes as a response to rising unemployment rates, a falling GDP, and predictions of an overall shrinking economy.<\/p>\n
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Families who make less than R$1,395 per month will be eligible to buy their own houses with payments as minimal as R$50 per month. Families who make less than R$2,790 per month will be able to receive subsidies for their homes. The plan calls for a million homes to be built, with the help of construction companies Gafisa and Tenda.<\/p>\n
Lula’s popularity has been affected<\/a> by the crisis, and the economy has had a large impact<\/a> on Brazilian politics in the last few months.<\/p>\n","protected":false},"excerpt":{"rendered":" Brazil’s President Lula announced an ambitious plan this week to stimulate the economy and to ward off the global crisis. The plan is to invest R$34 billion (US$15.1 billion) into constructing homes for working class families. The plan also aims to create 1.5 million jobs and to increase the country’s growth rate. However, 6.5 billion…<\/p>\n