December 29, 2016 / 9:34 AM / 7 months ago

Brazil to provide 33.5 bln reais for low income homebuyers in 2017

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SAO PAULO, Dec 29 (Reuters) - The Brazilian government will release up to 33.5 billion reais ($10.20 billion) from the FGTS severance fund to support homebuyers with low incomes in 2017, according to the Thursday edition of the official gazette.

The decision will benefit homebuyers with gross monthly incomes no greater than 3,600 reais.

$1 = 3.2840 reais Reporting by Ana Mano; editing by John Stonestreet

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