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Brazil Hopes FGTS Fund Will Inject R$30 Billion into Economy

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – A recent measure adopted by the Brazilian government to allow nearly 30.2 million workers to withdraw the amounts deposited in inactive workers’ fund (FGTS) is expected to inject R$30 billion into the Brazilian economy by the second semester of 2017.

According to state controlled bank, Caixa Econômica Federal, there are 49.6 million inactive accounts with balances totaling R$43.6 billion.

"We had 3.8 percent GDP drop in 2015. Unemployment has reached high levels, and the government now has, with these measures, showed compassion ... with . . .

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