Brazil to build half million low-income homes in 2017

Brazilian President Michel Temer said Wednesday the government will build 500,000 homes for low-income citizens in 2017.

Temer made the announcement at a ceremony delivering such residential units in the city of Mogi das Cruzes, in Sao Paulo state.

"I want to congratulate all of those who are receiving their homes today, but I want to congratulate the 170,000 families who have since May received new homes all over Brazil," said Temer.

"I (also) want to congratulate the future 500,000 families that will benefit from the buildings to be built in 2017," added Temer.

While Temer is spearheading austerity measures to shrink the public deficit, the housing initiative appears to have been designed to reactivate the ailing construction industry amid the country's economic recession.

Brazil's Minister of Cities Bruno Araujo said: "It is important to note that, the Congress has approved the 2017 budget submitted by the president...we can build another 500,000 units."

According to official figures, more than 12 million Brazilians have benefited from the government's "My House, My Life" housing program since the scheme was introduced in 2009 by then President Luiz Inacio Lula da Silva.

The program has so far built and delivered 3.15 million homes. Endi