Brazil has announced a major programme to build 610,000 new housing units to provide affordable housing to its people, says a report.
The ‘Minha Casa, Minha Vida’ (My House, My Life) programme is expected to propel the construction sector and thereby the economy.
“There is no economic growth in Brazil without the growth of civil construction,” the president of the Brazilian Real Estate Developers Association (Abrainc), Rubens Menin, was quoted as saying in a report.
The construction sector represents 8 per cent of the GDP and is the one that employs the most people.
In addition to the new houses that can now be built under the programme, the government has also adjusted the maximum monthly income brackets for eligibility of families to receive subsidies, the report said.