Ending inequality is essential for the country's growth, according to research

According to experts who participated in the Economic Empowerment of the Afro-descendant Population seminar in Brasília, inequality is one of the biggest obstacles to the country's economic development. The event took place on Monday (09) and was attended by renowned activists, researchers and economists.

Economic empowerment of the black population

According to the event participants, overcoming racial inequality in the country is essential for economic growth. According to the IBGE, 52% of the country's population is black, which could represent an increase of around 30% in the country's GDP if they had access to equal conditions.

According to Carolina Almeida, international advisor for the NGO Geledés, it is essential to create internal policies that favor income generation and “sustainable entrepreneurship”, which makes the population grow and not just survive.

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_{Economic growth (Photo: reproduction/Andresdr/Getty Images Embed)}

Luciana Mendes, from IPEA (Institute of Applied Economic Research) highlights the importance of raising awareness among the population and showing that inequality does not harm just one group, but the entire population. “If we do not make effective investments so that this population sees itself as a possibility for the future, we will not generate the development we need. It will not generate an increase in productivity, it will not generate a gain in gross domestic product.”commented Luciana.

The event was held at the headquarters of the Institute of Applied Economic Research (Ipea) and had the support of Geledés – Instituto da Mulher Negra, ONU Mulheres, Civil Society 20 (C20), Women 20 (W20), the National Development Bank (BNDES), Open Society Foundations and Instituto Ibirapitanga, the latter two sponsored the event.

Black Money Movement

The movement was created in the United States at the beginning of the 20th century by Marcus Garvey, and aims to encourage the financial growth of the black community. Black Money encourages members of the black community to invest in their own development, by consuming in businesses and hiring services from people in their own community, for example.

According to data obtained by research “Financial habits and behavior of the black population in Brazil”more than 50% of the black population is part of Brazil's middle class, meaning they have purchasing power. Research like this shows how this population represents a large share of the market and that, therefore, investment in better opportunities, education, work and market space can bring benefits to the entire Brazilian population.

Featured photo: black empowerment (reproduction/Tânia Rêgo/Agência Brasil)