President Lula of Brazil announces $882 billion in investments

Brazil's president Lula has announced investments of $882 billion in infrastructure and social projects from 2011 through 2014.

President Luiz Inacio Lula da Silva says the money will be spent on housing, transportation and energy projects, among others.

The investments are part of the government's Growth Acceleration Project, which was launched in 2007. It also includes money to build 2 million houses for low-income Brazilians.

The investments will be used by the next Brazilian president as Silva's second term will end this year.

Silva presidential chief of staff Dilma Rousseff said Monday the investments will produce improved "quality of life and a better future to Brazilians."