The Growth-Accelerating Programme (Programa de Aceleração do Crescimento – PAC), launched earlier this week, is the biggest strategic investment project in Brazil in the last four decades.

It consists of wide-ranging infrastructural investment along with measures aimed at facilitating and encouraging private investment. The PAC also aims to contain the growth of current spending and to improve public administration, both in terms of the fiscal budget and the budget for pensions and social security.

Over the next four years the PAC is set to invest US$ 236bn (R$ 504bn) in transport, energy, sanitation, housing, and water resources. The federal government will provide US$ 33bn, while US$ 203bn will come from state-owned companies and the private sector.

Source: Embassy of Brazil in London