The Brazilian government announced on Wednesday (Dec. 10) that 70.8 percent of the BRL 1.3 trillion allocated to the New Growth Acceleration Program (PAC) for 2023 to 2026 has already been spent. BRL 944.8 billion has been invested through August of this year in various projects and equipment throughout the country.

At a ceremony at the Planalto presidential palace, President Luiz Inácio Lula da Silva said that many people thought it was “humanly impossible” to complete this volume of investment. He urged mayors and governors to move forward with the projects and said that it is the role of the state to mobilize resources for initiatives that reach the periphery and the poorest.

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“Now, this last part is passing the investment ball to mayors and governors, and we hope that our bureaucracy, which will make the investment, will not take too long,” he said, noting that the selection of the projects that received funds was made together with federal entities.

With an estimated BRL 1.7 trillion in public and private investments, the New PAC was launched in August 2023 by President Lula. Of the total amount, BRL 1.3 trillion is expected to be invested by 2026, with the remainder to be disbursed after that date.