Brazil Earmarks US$ 4 Bi to Deal with 7.2 Bi Houses Deficit

    This year, Brazil’s federal government will invest US$ 4 billion (11 billion reais) in housing programs so as to reduce the country’s deficit in that area. The Ministry of Cities, which oversees the programs, is seeking out partnerships with states and municipalities.

    According to data from the Housing Secretariat, which is housed in the Ministry of Cities, the country has a shortfall of 7.2 million housing units, of which 80% is located in urban areas. The Northeast region has the biggest housing shortage: it needs 2.85 million units.


    “The only way to deal with the housing deficit is by uniting the federal, state and municipal governments in a concerted effort. We seek to get the local authorities involved,” explains the director of the Department of Urbanization of Precarious Settlements at the Secretariat, Inês Magalhães.


    The Ministry administers a number of programs with funds from the Federal Mortgage and Savings Bank (Caixa Econômica Federal) to aid low-income families with housing or give them subsidies for their rent or home purchases.


    The programs (Programa de Arrendamento Residencial (PAR), Programa de Subsí­dio Habitacional (PSH), Pró-Moradia and Fundo de Arrendamento Residência (FAR)), are run by municipal authorities at the local level.


    Translation: Allen Bennett
    Agência Brasil

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