Brazil's President Jair Bolsonaro on Monday emphasized the importance of pe...
BRASILIA - Brazil’s President Jair Bolsonaro on Monday emphasized the importance of pension reform to Brazil’s economic progress, but a powerful lawmaker said the president’s failure to engage with Congress means the bill is still well short of the votes needed for it to pass.
A regular central bank survey of economists on Monday showed that growth forecasts for this year have fallen to a new low. Markets slumped last week on reform concerns and the central bank said the economy probably contracted in the first quarter. Ramos told Reuters he estimates that pension reform has the support of no more than 200 votes in the lower chamber, well short of the 308 needed to pass. He said the country could not wait for the pension overhaul and Congress would push through reform on its own.
Also on Monday, Labor and Pensions Secretary Rogerio Marinho said he was confident the pension committee will “respect” the bill’s original text, but also noted strong “resistance” to some parts of it.
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