Brazil can’t pull off pension reform without 1 trillion reais in savings: Economy Minister

Written by on March 15, 2019

Brazil's Economy Minister Paulo Guedes attends a meeting with governors about pension reform bill proposal in Brasilia, Brazil
FILE PHOTO: Brazil’s Economy Minister Paulo Guedes attends a meeting with governors about pension reform bill proposal in Brasilia, Brazil February 20, 2019. REUTERS/Adriano Machado

March 15, 2019

RIO DE JANEIRO (Reuters) – Brazil’s Economy Minister Paulo Guedes said on Friday that pension reform must deliver at least 1 trillion reais ($262.26 billion) in savings in order to fund a transition from the current system to individual retirement accounts.

Guedes said the government would consider privatizing state-controlled companies Petroleo Brasileiro SA and Banco do Brasil SA after Privatization Secretary Salim Mattar finishes his current slate of planned privatizations.

(Reporting by Rodrigo Viga Gaier and Gram Slattery)

Source: OANN

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