Brazil’s government makes minor concessions ahead of pension reform vote: media

FAN Editor
FILE PHOTO: Brazil's Secretary of Social Security Rogerio Marinho is seen as he leaves the Ministry of Economy building in Brasilia
FILE PHOTO: Brazil’s Secretary of Social Security Rogerio Marinho is seen as he leaves the Ministry of Economy building in Brasilia, Brazil April 2, 2019. REUTERS/Adriano Machado/File Photo

April 23, 2019

SAO PAULO (Reuters) – A Brazilian congressional committee could vote on Tuesday on a highly anticipated pension reform bill after the government agreed to alter certain minor provisions, several local newspapers reported on Tuesday.

The government hopes the pension reform will save just over 1 trillion reais ($253.04 billion) in the decade after its approval. The modifications should not affect the amount of money saved, newspaper O Globo reported on Tuesday.

Pension reform is considered essential by economists to balance the budget of Brazil’s ever-growing fiscal deficit and was a key proposal of President Jair Bolsonaro’s election campaign.

The government had lost momentum on the reform in recent days, even as key economic indicators have worsened.

The vote by the Congressional Constitutional and Legal Affairs Committee was already scheduled for Tuesday, but the government took the extra step to ensure the vote will take place.

Opponents of the bill have also sued, trying to obtain an injunction that will prevent the vote from happening, newspaper O Estado de S. Paulo reported.

(This story corrects pension savings in second paragraph to 1 trillion reais)

(Reporting by Marcelo Rochabrun)

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