Brazil’s economic crisis beats the emerging middle class back down

PAUL KIERNAN, THE WALL STREET JOURNAL, 11/10/2015

When proper electricity arrived in Santa Marta, a small favela in the shadow of Rio’s Christ the Redeemer statue, longtime resident Cândida Oliveira Silva was happy to get the bill.

For the 52-year-old homemaker, it meant having legal proof of address and “feeling like a citizen” for the first time. But in recent months it has also meant cutting back on all but the most basic expenses. Reduced government subsidies and a drought have raised her bill to about 280 reais ($72) a month, roughly five times what it was a year ago.

Read More…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s