Brazil’s middle class is half the population, but destitute remain at 40%
The Brazilian middle class has grown sustainedly since 2003, when President Lula da Silva first took office and now represents almost half of the country’s population according to a report from the Getulio Vargas foundation released over the weekend.
The almost 91 million Brazilians (49.22% of total population) which now are part of the middle class absorb 46% of the country’s national income with average per capita ranging from 586 to 2.530 US dollars, adds the report published in Sunday’s O’Globo edition.
In 2003, according to the report, the Brazilian middle class totalled 64.1 million people equivalent to 37.56% of total population and had a 37% share of national income.
However in spite of the impressive social advance, the least favoured of the population remains as a majority representing 40% of total population.
The Getulio Vargas foundation said that 70 million people have incomes below the equivalent of 586 US dollars and many of them depend on different government subsidies to guarantee their subsistence.
The unequal is even more evident by comparing income at the cusp of the social pyramid with 19.4 million people (10.42% of the population) which have a 44% share of Brazil’s national income.