Brazil - Furnishing loan help
June 16, 2013, Sunday
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Print Edition
Print Edition
BRAZIL'S government is offering US$8.7 billion in low-interest loans for people enrolled in a low-income housing program to fit out their homes with furniture and appliances.
President Dilma Rousseff launched the program Wednesday to boost domestic demand as the economy sags.
Brazil had bolstered its economy by stoking internal consumption, and its boom put 40 million more Brazilians into the middle class in the last decade. But consumption has dropped and the economy grew just 0.9 percent last year.
The new credit program will make US$2,500 available to each household in the housing program, at 5 percent annual interest.
President Dilma Rousseff launched the program Wednesday to boost domestic demand as the economy sags.
Brazil had bolstered its economy by stoking internal consumption, and its boom put 40 million more Brazilians into the middle class in the last decade. But consumption has dropped and the economy grew just 0.9 percent last year.
The new credit program will make US$2,500 available to each household in the housing program, at 5 percent annual interest.
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