Carolina Pimentel
Reporter - Agência Brasil

Brasília – According to president Luiz Inácio Lula da Silva, the building industry has never gotten as much attention from the government as it is getting now. Lula spoke at a ceremony celebrating the launch of a package of incentives for the housing sector.

The incentives for construction include US$3.9 billion for housing loans from passbook savings accounts (an amount that is 90% more than was available last year). Another measure will boost funding for slum improvement (Fundo Nacional de Habitação de Interesse Social) (FNHIS). from US$50 million to US$457 million.

The government also announced tax reductions on building materials.

Lula declared that the measures will mean an increase in civil construction as a part of the country's GDP, and will mean more jobs.

Translation: Allen Bennett