Economic
growths have lifted millions of Brazilians out of extreme poverty and have led
many families into the middle class over the past decade. However, sustainable
social gains in Brazil seem doubtful as for almost 3 years Brazil has grown
very little or nothing at all. It is potentially headed for recession.
Brazilian families who usually bought on credit will be no longer doing so. People
are afraid to spend. Decline in consumption leads to less jobs created or
available in the market, which creates a vicious cycle. I doubt if the middle
class families can maintain their living standard or if some of them will be
kicked out from the middle class, pitifully. Also, Bolsa Familia, the direct
government payments to the poorest of the poor, may not help these people
anymore as the government is planning big spending cuts. The disastrous
economic performance hit the middle class and the extreme poor.
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