Brazil's lower house of Congress approved a landmark overhaul of the countr...
BRASILIA - Brazil’s lower house of Congress approved a landmark overhaul of the country’s pension system on Wednesday by a far wider margin than predicted, delivering a resounding victory to the government in its quest to revive public finances.
House Speaker Rodrigo Maia said he hoped the complete bill could be put to a second, final vote by Friday or early Saturday. That would allow the Senate to take up debate in August after a two-week recess. “Brazil is ever closer to getting on the path to jobs and prosperity,” Bolsonaro said on Twitter, congratulating Maia following the vote.
He defended his allies in the centrist ‘Centrao’ coalition, whom Bolsonaro has accused of perpetuating old-school transactional politics. Brazil’s benchmark Bovespa stock index closed 1.23% higher, reducing gains after hitting an all-time high of 106,650 points. The country’s currency, the real, hit 3.7585 to the U.S. dollar, its strongest level since February.
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