Programa de Aceleração do Crescimento
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The Programa de Aceleração do Crescimento (Growth Acceleration Program), better known as PAC, is a major infrastructure program of the Federal government of Brazil. The program was launched on January 28, 2007, by the Lula da Silva administration, consisting of a set of economic policies and investment projects with the objective of accelerating economic growth in Brazil. The program had a budget of $503.9 billion reais for the 2007-2010 quadriennium. The money pledged to be spent on this program was to be around R$ 500 billion (US $260 billion) over four years. However, by 2010 many projects remained mired in bureaucracy, and only 11% of the projects outlined in the plan had been completed, while just over half had not even been launched.[1]
Portuguese: Novo Programa de Aceleração do Crescimento, Novo PAC | |
Development program overview | |
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Formed | 28 January 2007; 17 years ago (2007-01-28) |
Preceding agencies |
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Jurisdiction | Federal government of Brazil |
Motto | Portuguese: Desenvolvimento e sustentabilidade |
Annual budget | R$60 billion |
Development program executive | |
Website | https://www.gov.br/casacivil/pt-br/novopac |
The Rousseff administration continued the program under the name PAC-2. Following the 2022 Brazilian general election, Luiz Inácio Lula da Silva reformed the program under the name Novo PAC, having a total investment of R$1.7 trillion, with R$1.3 trillion being invested by 2026.[2][3]