Pension reform not a choice, Brazil finance minister says
Brazilian Finance Minister Henrique Meirelles said that the overhaul in the country's pension system is no longer an option. “The reform is not a matter a choice; it must be carried out at some point. It's a fiscal, numerical issue,” he said today (Nov. 7).
Meirelles was taking part in a conference in São Paulo. Yesterday (6), in Brasília, President Michel Temer met with party leaders and admitted the government will have a hard time approving the pension reform.
“The president recognized the difficulties; it's a controversial process anywhere in the world, there's no doubt about it. The president acknowledged this before the party leaders, who were in attendance voicing their concerns,” the minister said.
Nonetheless, the minister went on to pledge not to step back while facing the challenges. The growth in Brazil's pension system is not sustainable, he argued.
The pension reform is one of the economic pillars in the administration of President Michel Temer, who took office last year after former President Dilma Rousseff was impeached.
Temer was able to garner congressional support for measures like a labor reform making rules between employers and workers more flexible. The pension overhaul, however, includes a constitutional amendment that requires the favorable vote of 308 members of the lower house.
Translated by Fabrício Ferreira
Fonte: Pension reform not a choice, Brazil finance minister says
