Brazil finance minister says pension reform a common interest among all parties

Brazil's Finance Minister Henrique Meirelles said this is the right moment to approve the country's pension reform. The statement was especially directed at the country's political parties, as “all those aspiring to be in power in 2019 will be much better off after winning if the pension reform has been approved.”

To his judgment, lawmakers voting for the overhaul can use it in their favor in the 2018 campaign. “Since voting on all of these reforms and boosting the economy lead to job creation, lower inflation, and, as a result, to higher living standards for everybody, I believe this is a great electoral asset for all Congress members backing the government.”

If the overhaul is not approved now, it will have to be brought forward by whoever becomes president in 2019, Minister Henrique Meirelles argued, “because the current trajectory of spending is unsustainable.”

Translated by Fabrício Ferreira