Brazil to be boosted by increase in spending
Brazilian property owners have been told that more funds will be made available for health, education and defence next year.
President Luiz Inacio Lula da Silva has planned for primary spending to increase by about 13 per cent in 2010, according to Bloomberg.
The 2010 budget, which was revealed by minister Paulo Bernado, outlined that spending would rise to 802 billion reais (£263 billion) from 711 billion reais this year.
More than 49 billion reais will be set aside for health, while 13 billion reais will be put back into education.
There are also plans to invest in Brazilian property with another seven billion reais being used to create up to one million new homes by the end of Lula’s term of office at the end of next year.
Bernado said that the economic crisis ended in Brazil this year:"The economy is already growing, we’re generating jobs and revenue will increase next year."
The budget also predicted that the monthly minimum wage in the South American country would rise by nearly nine per cent, costing the government nearly eight billion reais.
