The federal government is preparing to release around R$7 billion from the FGTS (Service Time Guarantee Fund) to benefit approximately 10 million workers.
The measure, confirmed by the Minister of Labor, Luiz Marinho, .
For Luiz França, president of Abrainc (Brazilian Association of Real Estate Developers), these initiatives could compromise the main purpose of the fund.
“The FGTS belongs to the worker and has three purposes: housing, sanitation and infrastructure. You cannot distort the use of the Length of Service Guarantee Fund”, he stated.
At the same time, allowing the use of the entire account balance, when today only 40% of the fine and balance is available for this purpose.
These measures are part of a .
Impact on popular housing
According to França, since 2016 around R$140 billion have been withdrawn from the FGTS through different modalities.
The president of Abrainc warns that the R$7 billion that will be released now represents sufficient resources to build 50,000 homes per year and generate approximately 90,000 new jobs.
“Those who are harmed are not the developers. Those who are harmed are the Brazilian population who are no longer able to buy their homes”, highlighted França, remembering that Brazil has a housing deficit of 5.8 million homes and will need 11 million new units in the next 10 years.
My Home My Life and the interest rate
The president of Abrainc explained that precisely because it uses FGTS resources, which allows interest rates that fit the worker’s budget.
“The Brazilian interest rate does not affect the Minha Casa Minha Vida program. And the beauty of the program is that the person who receives this incentive is the property buyer, who goes straight to it”, he highlighted.
França also mentioned that , ends up compromising the ability of workers to acquire their own home, as they consume resources that could be used as a down payment on housing financing.
“He committed to buying a television, he committed to the savings he could make as a down payment and he was left without buying his house”, he exemplified, citing a case he witnessed.
While the low-income market depends on the FGTS, França highlighted that the .
“This market, with interest rates above double digits, is suffering. When the interest rate in Brazil is below double digits, we will see the middle class market take a new boost”, he concluded.
