Lula Increases Brazil Anti-Poverty Stipend by 9.7% (Update1)

[Judi Lynn]

Lula Increases Brazil Anti-Poverty Stipend by 9.7% (Update1)
By Iuri Dantas and Andre Soliani

July 31 (Bloomberg) -- Brazilian President Luiz Inacio Lula da Silva raised the country’s flagship anti-poverty benefit by 9.7 percent.

The minimum monthly amount paid by the so-called “Bolsa Familia” will be raised to 68 reais ($36.3) in September from 62 reais now, a presidential decree published in the government’s gazette said.

Faster economic growth coupled with Lula’s social programs helped lift 16.5 million Brazilians out of poverty between 2003 and 2007, according to figures by the government’s Institute of Applied Economic Research.

The program, which was created in October 2003 to reduce poverty, helps 11.4 million families, according to the Social Development Ministry. The benefit was raised by 8 percent in July 2008 in response to higher food costs.

http://www.bloomberg.com/apps/news?pid=20601086&sid=aNSsF9mWO1R4