Brazil is very proud of the fact that over twenty-five million of its citizens have been lifted out of poverty in the last ten years or so and wishes to maintain and extend this progress. This obviously includes the spread of ownership of affordable homes, a vitally important aspect.
This priority is mainly catered for by the government- backed scheme ‘Minha casa minha vida’. This is specifically designed to enable many thousands of families on relatively modest incomes to consider owning their own homes, previously an unattainable dream in Brazil for all but the better-off in society.
Incidentally, from the point of view of private finance in the scheme, relatively short term investments are set to reap very competitive returns.
On a realistic note, Mr. Mantega and his colleagues acknowledge that in harness with progressive economic advances, inflation must be guarded against as far as possible. In a developing ‘powerhouse economy’ such as Brazil’s, this is a crucial element.
Despite the obvious challenges from both the international and domestic arenas, the public in Brazil seems to be continuing in support for President Dilma Rousseff. As the country’s new leader ‘Dilma’ (as she is universally known) is maintaining a seventy percent plus approval rating, despite some well-publicised scandals affecting leading figures in the administration.
Brazil’s ‘iron lady’ seems to be providing a necessary core on which people still feel they can depend. This is no more true than for those contemplating for the first time their very own homes, their very own personal stake in the country.
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