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 Has Already Reported 3,000 Dengue Cases This Year

Brazil’s Ministry of Health reports that as the dengue mosquito season begins – it ...

Brazil Lets Airlines Offer Discounts on International Flights

The Brazilian government is starting to loosen its grip on international airline tickets including ...

Brazil Is Land of Opportunities, Saudi Executives Find Out

In the first day of their trip to Brazil, Monday, January 30, the representatives ...

Brazil’s Surplus Reaches US$ 21 Billion

With exports at US$ 58.466 billion, Brazil’s cumulative trade surplus for the year has ...

Brazil Starts 8 Infrastructure Projects with IMF Blessing

Eight major projects with economic and social impact will split the first installment of ...

Brazil Mehmari’s Latest Release Dances Between Themes

Pianist/composer/multi-instrumentalist André Mehmari has the rare distinction of being one of the most consistently ...

Brazil President Refuses do Answer Why Her Party Backs Up Top Corrupt PT Leaders

Dilma Rousseff, the president of Brazil, admitted “many problems and challenges” still plague the ...

Self-sufficient in Milk, Brazil Boosts Exports

Last year Brazil produced 22.2 billion liters of milk and reached self sufficiency.The country’s ...

Brazilian Supermarkets Ready to Invest 4% More than Last Year

Supermarkets in Brazil are planning to invest 3.877 billion reais (US$ 1.775 billion) this ...

Germany Gets Brazilian Moderns for Culture Cup

The Culture Cup, a cultural exchange program with Germany that will be taking place ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`