Brazil invested $63.6 billion in infrastructure and housing in 2015

In 2015, the federal government injected $63.6 billion into infrastructure and housing according to an official announcement released Friday (Feb. 29). The amount accounts for 24.2% of a total $260 billion estimated to be invested by 2018. This is the second balance sheet in the current phase of the initiative.

Last year alone, the construction works completed and delivered relied on over $40 billion—23.8% of what had been estimated ($170 billion). The investment was divided into three sectors: social and urban ($23 billion), energy ($16 billion), and logistics ($1.24 billion).

According to the Ministry of Planning, Budget, and Management, despite the unfavorable economic scenario currently facing the country and the world, and the recent implementation of adjustments aimed at curbing public spending, the PAC, launched in 2007, is still a crucial sequential funding program for Brazil's infrastructure. Projects add up to some 37 thousand and benefit a wide number of sectors through the creation of jobs, improvements in the lives of thousands of Brazilians, and a reduction in local inequalities.

The government also announced that, of the funds invested as part of the program in 2015, $25.27 billion account for values aimed at the public sector; funding for new housing and the My House, My Life Program; $14.1 billion for state-run companies; $11.95 billion for the Fiscal Budget and Social Security; $11.47 billion for the private sector; and $830 million earmarked for states and municipalities.

“The results yielded by the PAC in 2015 are proof that it is an important tool for planning and monitoring top-priority investment in infrastructure,” the government pointed out.

Translated by Fabrício Ferreira

Relacionadas

Minister: investments in health care, housing, education to rely on tax revenues