Brazil will spend R$144.5 billion, about US$27 billion, on housing in 2027, the same amount as this year, after the board of the FGTS workers' savings fund approved its budget on Thursday, The Rio Times reports.
Of that, R$125.5 billion is set aside for low-income families, mainly through Minha Casa Minha Vida, the government's flagship subsidised home-buying programme. A further R$15 billion goes to middle-class buyers within the same scheme and R$4 billion to a cheaper loan line for fund members. The board also approved R$13 billion in subsidies to reduce how much low-income buyers need to borrow.
The fund's total 2027 investment budget is R$169 billion, which also covers sanitation, infrastructure and health. The decision comes days after President Luiz Inácio Lula da Silva was re-elected on 25 October.
Source: The Rio Times
